Mentioned:
There’s a new mega deal for solar energy in the public markets. And Meta is behind it.
What’s happening:
- Enbridge (NYSE: ENB) has officially entered into a deal with Meta (NASDAQ: META) to sell them renewable power from their new 600 megawatt solar facility under construction in San Antonio, Texas
By the numbers:
- The new solar facility being built by Enbridge spans 3,500 acres and is expected to cost $900M USD to construct
- Meta will Spruchase 100% of all the renewable energy generated by Enbridge at their new Clear Fork solar project once it begins operations
Why it matters:
- This is the first time ever that Enbridge has cut a deal with Meta for purchasing solar power
Going deeper:
- Meta has been rapidly cutting new solar power deals lately to meet their electricity needs for their large scale data centres, including just recently striking a 1,800 megawatt deal with Invenergy
