(Bloomberg/Mark Chediak) — Meta Platforms Inc. signed four contracts with closely held renewable energy developer Invenergy for wind and solar power as part of the Facebook-owner’s push to secure clean sources of electricity for its operations and data centers.
The agreements involve projects in three US states with a total capacity of 791 megawatts, the companies said in a statement. The electricity will supply local power grids while Meta will get the clean energy credits tied to the new generation.
The deals come as Congressional Republicans debate how quickly to phase out tax credits for renewable energy projects as part of US President Donald Trump’s broad tax-and-spending bill. The uncertainty over the fate of clean energy incentives have rattled developers and promoted some to speed up the start of projects to qualify for existing tax breaks.
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Technology giants, including Meta, have been some of the biggest buyers of emissions-free power to meet their climate goals and, more recently, supply the growing demand from their data centers running artificial intelligence. Meta signed a deal earlier this month to purchase power from an Illinois nuclear power plant. The technology company is contracting for more power after its total electricity consumption nearly tripled from 2019 to 2023.
Meta’s contracts for clean power from Invenergy now total 1,800 megawatts. The new deals involve facilities in Ohio, Arkansas and Texas.
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