Mentioned:
META -5.57% CEG -3.67%
Meta is rapidly scaling up their data centre operations to go all in on artificial intelligence. Which is exactly why they’re cutting a new deal to secure more electricity from solar power.
What’s happening:
- Meta (NASDAQ: META) has officially expanded their deal with solar energy company Invenergy for an additional 791 megawatts of solar and wind power
By the numbers:
- Invenergy will now provide Meta will a total of 1,800 megawatts of power as part of their partnership
Why it matters:
- The expansion of Meta and Invenergy’s clean energy partnership is one of the single largest deals ever done by a publicly traded technology company for solar power
Going deeper:
- The new solar projects being built by Invenergy as part of their new deal with Meta will be built in Ohio, Arkansas and Texas
- Meta has been making a flurry of moves recently to secure new sources of clean energy to power their large scale data centres, including striking their first ever nuclear power deal with Constellation Energy (NASDAQ: CEG)
The intrigue:
- Blackstone is one of Invenergy’s single largest investors, having poured more than $4B USD into Invenergy throughout multiple strategic financing rounds
