Invenergy to Provide over 760MW in Renewable Energy, Supporting Meta's Energy needs in line with its Clean and Renewable Energy Goals
Rhea-AI Summary
Meta has signed four contracts with Invenergy for 760 MW of clean energy, bringing their total clean energy procurement to over 1 GW. The Environmental Attribute Purchase agreements (EAPAs) involve four solar facilities across the US: Hardin II Solar (150 MW, Ohio), Delilah II Solar (150 MW, Texas), Tip Top Solar (110 MW, New Mexico), and Chalk Bluff Solar (350 MW, Arkansas), with expected commercial operations between 2024 and 2027.
The electricity will be delivered to local grids, enhancing regional reliability while Meta receives clean energy credits for the new generation capacity. This initiative supports Meta's commitment to power all operations with 100% clean energy.
Positive
- Expansion of clean energy capacity by 760 MW
- Strategic diversification across four US locations
- Phased implementation from 2024 to 2027 ensuring steady capacity growth
- Enhancement of local grid reliability
Negative
- None.
News Market Reaction
On the day this news was published, META declined 0.79%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
- Total procured clean energy between the two companies now exceeds 1 gigawatt
- New agreement contracted through four Invenergy-developed solar facilities
MENLO PARK, Calif. and
"Energy demand is soaring—and Invenergy is excited to work with Meta to deliver long-term, clean energy solutions to support their operations," said Ted Romaine, Invenergy Executive Vice President of Origination. "As the largest privately held clean energy owner, operator and developer, we're pleased that Invenergy's utility-scale solar projects can contribute to meeting Meta's clean energy goals, while also providing good-paying jobs and generating millions in local economic benefits."
"Surpassing the 1 GW milestone in renewable energy procurement from Invenergy is a testament to Meta's commitment to matching our growing power needs with clean energy," said Urvi Parekh, Meta's Head of Global Energy. "We're grateful for Invenergy's long-term collaboration. These projects will help us continue our commitment to support all of our operations with
Meta's EAPAs are contracted through four Invenergy-developed facilities strategically located across the
- Hardin II Solar (OH) - 150 MW – Expected Commercial Operations 2024
- Delilah II Solar (TX) - 150 MW – Expected Commercial Operations 2025
- Tip Top Solar (NM) - 110 MW – Expected Commercial Operations 2026
- Chalk Bluff Solar (AR) - 350 MW – Expected Commercial Operations 2027
The electricity from these projects will be delivered to the local grid, increasing regional reliability by delivering power to nearby homes and businesses, while Meta will receive clean energy credits for bringing new generation capacity online.
About Invenergy
Invenergy is accelerating cleaner, more reliable, affordable energy. Invenergy and its affiliated companies develop, build, own, and operate large-scale renewable and other clean energy generation, transmission and storage facilities in the
Invenergy and its affiliated companies have successfully developed more than 32,000 megawatts of projects that are in operation, construction or contracted, including wind, solar, transmission infrastructure and natural gas power generation and advanced energy storage projects.
View original content to download multimedia:https://www.prnewswire.com/news-releases/invenergy-to-provide-over-760mw-in-renewable-energy-supporting-metas-energy-needs-in-line-with-its-clean-and-renewable-energy-goals-302323252.html
SOURCE Invenergy
FAQ
How much renewable energy will Meta (META) receive from the new Invenergy contracts?
What is the total clean energy procurement between Meta (META) and Invenergy after this agreement?
When will Meta's (META) new solar facilities begin commercial operations?
Which states will host Meta's (META) new solar facilities with Invenergy?
