Enbridge Powers Up Texas with $900M Solar Investment for Meta's Data Centers

Energy infrastructure giant Enbridge is making a significant leap into large-scale solar power in the United States, announcing a $900 million investment in a major Texas project. This initiative is primarily driven by the escalating demand for clean energy from major technology companies seeking to power their energy-intensive data centers. The Clear Fork project, located near San Antonio, is set to become operational by 2027 and will supply 100% of its renewable output to Meta Platforms under a long-term contract.

A Major Investment in Renewable Energy

Enbridge's final investment decision marks a substantial commitment to the renewable energy sector. The 600-megawatt solar power project, named Clear Fork, represents a strategic move to capitalize on the growing need for clean energy solutions, particularly from the technology industry. Construction for the project is already underway, with Enbridge anticipating that it will positively impact its cash flow and earnings starting in 2027.

Meta's Commitment to Clean Power

Meta Platforms, the parent company of social media giants like Facebook and Instagram, has secured a long-term agreement to purchase the entire renewable output from the Clear Fork solar project. This partnership underscores Meta's dedication to powering its operations with 100% clean energy. Urvi Parekh, Meta's head of global energy, expressed enthusiasm for the collaboration, highlighting its role in bringing new renewable energy sources to Texas.

Driving Demand for Data Center Power

Key Takeaways:

• Enbridge is investing $900 million in a 600-megawatt solar project in Texas.

• The project, named Clear Fork, is located near San Antonio and is expected to be operational by 2027.

• Meta Platforms has signed a long-term contract to purchase 100% of the project's renewable output.

• This investment reflects the increasing demand for renewable energy from technology companies to power their data centers.

Matthew Akman, Enbridge's executive vice president of corporate strategy, emphasized that the Clear Fork project exemplifies the growing demand for renewable power across North America. He noted that "blue-chip companies" involved in technology and data center operations are actively seeking sustainable energy solutions. This trend is a significant driver for growth in the renewables sector, as companies like Meta look to reduce their carbon footprint and meet sustainability goals.

Sources

• Canada's Enbridge to invest $900 million in Texas solar project, Yahoo.co.

• Enbridge to invest $900M US on solar project supporting Meta's data centres, CBC.