Accenture, Microsoft Extend Partnership To Support UK Clean Energy Transition

Accenture PLC (NYSE: ACN) and Microsoft Corp (NASDAQ: MSFT) have partnered to fast-track the U.K.'s low-carbon transition. The joint venture, Avanade, will help utility and energy companies transform the energy system, reducing the electricity decarbonizing cost, supported by open data, artificial intelligence (AI), and digital workers.
Avanade will combine its digital skills and competencies with Microsoft technology for digital transformation.
This partnership builds on decades of teamwork in the U.K. and around the world. Accenture and Avanade have delivered over 35,000 Microsoft projects for over 12,000 clients in over 20 industries worldwide.
The U.K. was the first G7 country to pioneer a net-zero target for carbon emissions by 2050. Accenture, Microsoft, and Avanade will combine their cloud, data, and AI capabilities with their internet of things, digital twins, and industry transformation experience to help utility and energy companies accomplish the U.K.'s low-carbon ambition.
Accenture, Microsoft, and Avanade's approach focuses on reducing the cost of renewable generation by up to 25%, ensuring over 70% of the power generation from renewable sources attain zero-carbon electricity system supply-demand balance by 2025 and reduce the cost of meeting increasing electricity demand by 20%.
Price action: ACN shares are trading higher by 1.22% at $259.32, MSFT shares are higher by 0.15% at $233.62.