Meta Expands Renewable Energy Portfolio with Over 1 GW Acquisition
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Meta has significantly enhanced its renewable energy portfolio this week through a series of agreements that collectively add over 1 gigawatt of generating capacity. On Thursday, the company announced it will acquire 791 megawatts of solar and wind power from project developer Invenergy, with projects located in Ohio, Arkansas, and Texas. Additionally, on Wednesday, Meta revealed it would purchase the environmental attributes from two solar farms operated by Adapture Renewables in Texas, totaling 360 megawatts. These projects are anticipated to come online in 2027 and 2028.
This recent expansion is part of Meta’s ongoing effort to increase its renewable energy sourcing. Last month, the company signed a deal to purchase 650 megawatts from two solar projects being developed by AES, a utility and power-generation firm. Earlier this month, Meta also finalized an agreement with XGS Energy to construct a 150-megawatt enhanced geothermal power plant in New Mexico.
These initiatives are particularly timely as subsidies for renewable technologies are currently under scrutiny in ongoing reconciliation discussions among legislators. Solar energy is especially crucial as it represents the fastest method for data centers to secure new power. Typically, a solar farm can be completed in approximately 18 months, and phased construction may allow some projects to begin generating electricity even sooner.
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