Meta Boosts Green Energy With New Solar Deal, Supports AI Data Center Growth

Meta Platforms Inc META confirmed Monday that it’s procuring 200 megawatts of solar energy from electric utility firm Engie.

What Happened: Engie will supply the Menlo Park, California-based tech giant with renewable energy from its Anson 2 solar project in Jones County, Texas. 

The Anson 2 project will likely employ over 300 skilled workers during construction and support Microsoft’s data center needs.

Also Read: Bank of America Q4 Earnings: $6.7 Billion Profit, $1.7 Billion In Investment banking fees, Forecasts Higher NII In 2025

Meta and Louisiana Economic Development (LED) disclosed plans for a $10 billion AI data center in northeast Louisiana in December. Meta shared plans to tap Entergy to add 1,500 MW of renewable energy to the grid.

Other tech companies also inked collaborations with energy startups to address data center power needs:

• Alphabet Inc GOOG GOOGL Google and Kairos collaborated to deploy 500 megawatts of small modular nuclear reactors.
• Amazon.com Inc‘s AMZN Amazon Web Services tapped Dominion Energy, Inc D to develop a small modular reactor. In October, Amazon committed over $500 million in nuclear power across three projects from Virginia to Washington state.
• Microsoft Inc MSFT collaborated with Constellation Energy Corp CEG to reopen Pennsylvania’s Three Mile Island nuclear plant.
• Nvidia Corp NVDA chief Jensen Huang endorsed nuclear energy to meet AI’s growing electricity demands.

Price Action: Meta stock is down 0.86% at $611.61 at last check Thursday. It surged over 66% in the last 12 months.

Also Read:

• Taiwan Semiconductor Q4 Earnings: 3nm and 5nm Nodes Lead Topline Growth, Expands Margins, Issues Strong Q1 Outlook

Image: Shutterstock