Meta Expands Clean Energy Portfolio to Power AI and Data Center Growth

Meta inks solar, wind power deals for data centers

Meta has signed four new clean energy agreements, securing additional solar and wind energy for its massive data center operations, the companies announced Thursday. The technology company's agreements with developer Invenergy will make way for projects in three U.S. states and provide Meta with an additional 791 megawatts. The projects in Ohio, Arkansas and Texas are expected to bolster Meta's operations, data center growth and clean energy goals, Invenergy said in a release Thursday. "We're laser-focused on advancing our AI ambitions -- and to do that, we need clean, reliable energy," said Urvi Parkeh, Meta's head of global energy. It is the latest in a string of energy deals Meta and other technology companies have made in recent months to meet the increasing power demand of artificial intelligence (AI) and computing operations. Meta announced earlier this month it secured a 20-year deal with Constellation Energy to utilize nuclear power for AI and other technology developments. As part of the agreement, Meta said it will expand the output of Constellation's Clinton Clean Energy Center in Illinois, which was slated to close in 2017 amid financial troubles. The center's clean energy output will increase by 30 megawatts under the new deal, which is expected to preserve 1,100 local jobs and generate $13.5 million in annual tax revenue. Meta is increasingly turning its focus to AI, which requires an unprecedented amount of energy to develop and operate and power data centers. The company said it expects to nearly double its spending this year for this pivot.

Meta Secures More Clean Energy For Power Hungry AI And Data Center Growth - Meta Platforms (NASDAQ:META)

Renewable energy developer Invenergy and tech giant Meta Platforms META announced a significant expansion of their clean energy collaboration on Thursday, with four new agreements totaling an additional 791 megawatts (MW) of procured solar and wind energy. The agreements will provide near-term energy to support Meta's operations, data center growth, and clean energy goals. This latest set of agreements builds upon a previously announced partnership from 2024, which already saw Invenergy providing Meta with 1,000 MW of renewable energy. Also Read: Meta Boosts Green Energy With New Solar Deal, Supports AI Data Center Growth Together, these projects bring the companies' partnership to 1,800 MW, including over 740 MW of new energy generation in Ohio. The electricity from these projects will be delivered to the local grid, while Meta will receive the clean energy credits associated with the new generation capacity coming online. These four agreements leverage Invenergy's expertise across a diverse portfolio of strategically located clean energy facilities in the U.S. These include the Yellow Wood Solar Energy Center (300 MW) and the Pleasant Prairie Solar Energy Center (140 MW), both in Ohio and anticipated to commence commercial operations in 2027. Also part of the deal is the Decoy Solar Energy Center (155 MW) in Arkansas, slated for commercial operations in the same year. Rounding out the quartet is the Seaway Wind Energy Center (196 MW) in Texas, projected to come online in 2028. The move marks Big Tech's prioritization of renewable energy to reduce its carbon footprint and costs and improve sustainability as a large consumer of energy, particularly for data centers. Beyond solar and wind, Meta is also exploring other innovative energy solutions. In December, Meta announced plans to seek proposals from nuclear energy developers to accomplish its artificial intelligence innovation and sustainability goals. It targeted 1-4 gigawatts of new nuclear generation capacity in the U.S. starting in the early 2030s. Meta said it expects nuclear energy to support the growth needs of the electric grids that power its data centers and the communities around them. Price Action: META stock was up 0.41% at $711.22 at last check Thursday. Read Next: Constellation Energy Signs 20-Year Nuclear Power Deal With Meta, Stock Surges Photo by Skorzewiak via Shutterstock METAMeta Platforms Inc$722.151.90%Stock Score Locked: Edge Members Only Benzinga Rankings give you vital metrics on any stock - anytime. Unlock RankingsEdge RankingsMomentum85.29Growth92.35Quality87.66Value26.21Price TrendShortMediumLongOverviewMarket News and Data brought to you by Benzinga APIs

Meta signs deals to source more solar, wind power for data centres

Renewable energy developer Invenergy and social media giant Meta Platforms have signed four deals to supply 791 megawatts (MW) more of solar and wind power to operate data centres, the companies said on Thursday. This is the latest in a string of deals by Meta to meet the surging power demand of its data centres needed for artificial intelligence technologies using clean energy. Last year, Meta had signed four contracts with the Chicago-based Invenergy for 760 MW of solar electricity. Invenergy said Thursday's deals bring the companies' total partnership to 1,800 MW. Meta has previously announced deals with several large solar projects, a geothermal startup, and is also seeking proposals from nuclear power developers. The electricity from Invenergy's solar and wind projects in Ohio, Arkansas and Texas will be delivered to the local grid, while Meta will receive the clean energy credits associated with the new generation capacity coming online, the energy company said. The companies did not disclose the financial details of the deals.