Hello @Santhoshsivan Murali,
Welcome to Microsoft Q&A Platform. Thank you for reaching out & hope you are doing well.
I understand that you are trying to connect Power BI to Azure Blob Storage to access data, and for authentication, you only see four options: Anonymous, Organizational Account, Account Key, and SAS token. It looks like you can't find the Service Principal authentication option.
Since you are using the Power BI Desktop app, the service principal option is not available, and the Service Principal authentication is only supported in the cloud version (Power BI Service). This is by design.
Power BI supports Service Principal authentication through Azure Active Directory (AAD) and Role-Based Access Control (RBAC), However, at present, there is no direct user interface in Power BI Desktop or Power BI Service for Service Principal authentication when connecting to Azure Blob Storage.
In Power BI, selecting Organizational Account allows you to authenticate with an Azure AD service principal instead of a user account. To set this up, register an app in Azure Entra ID, assign the necessary Storage Blob Data Contributor or Reader role to the storage account or container, and use the service principal’s credentials (Client ID and Client Secret) for authentication.
Service principal authentication is mainly available in the Power BI service for scheduled refreshes and dataset connections, which you can set up using Power BI data source settings or Azure Resource Manager connections. In Power BI Desktop, there isn't a specific "Service principal" option in the authentication menu. Instead, you use the Organizational Account option or configure the connection in the Power BI service after publishing.
Reference links,
Azure Blob Storage - Power Query | Microsoft Learn
Authentication Method - service principal | Microsoft Learn
Kindly let us know if the above helps or you need further assistance on this issue.
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