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Facebook, Microsoft Give Clean Energy a Boost With Buyer’s Group

  • Renewable energy alliance seeks to unlock utility barriers
  • Group plans to help companies deploy 60 gigawatts by 2025

Facebook Inc. and Microsoft Corp. are joining forces with environmental groups to promote the development of 60 gigawatts of renewable energy by 2025.

That’s enough to replace all the coal-fired power plants in the U.S. expected to retire in the next four years. The Renewable Energy Buyers Alliance was formed to break barriers that companies say they face with utilities and regulators in their efforts to reduce carbon emissions, the companies said on a conference call Thursday.