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

Calgary-based Enbridge is making a significant investment of $900 million in a new 600-megawatt solar power project in Texas. This major renewable energy initiative is designed to exclusively power Meta Platforms' data center operations through a long-term contract, highlighting the growing demand for clean energy solutions from major technology companies.

Enbridge's Major Solar Investment in Texas

Energy infrastructure giant Enbridge has announced a final investment decision for the Clear Fork solar project, a substantial 600-megawatt facility located near San Antonio, Texas. The project, which is already under construction, represents a significant commitment to renewable energy development by the Calgary-based company. Enbridge expects the Clear Fork project to begin contributing to its cash flow and earnings starting in 2027, the same year it is slated to become operational.

Meta's Commitment to Clean Energy

Meta Platforms, the parent company of social media giants like Facebook, Instagram, and WhatsApp, has secured a long-term contract to purchase 100% of the renewable energy output from the Clear Fork solar project. This agreement underscores Meta's strategy to power its extensive data center operations with clean energy sources. Urvi Parekh, Meta's head of global energy, expressed enthusiasm for the partnership, stating, "We are thrilled to partner with Enbridge to bring new renewable energy to Texas and help support our operations with 100 percent clean energy."

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 summer 2027.

• Meta Platforms has signed a long-term contract to purchase the entire output of the solar farm.

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

• Enbridge, traditionally known for pipelines, is expanding its renewable energy portfolio.

Growing Demand for Renewables

Matthew Akman, Enbridge's executive vice president of corporate strategy and president of power, highlighted the significance of the Clear Fork project. "Clear Fork demonstrates the growing demand for renewable power across North America from blue-chip companies who are involved in technology and data center operations," Akman stated. This investment aligns with Enbridge's strategy to advance its renewable development portfolio by leveraging its financial strength, supply chain capabilities, and construction expertise within a low-risk commercial model.

Enbridge's Expanding Renewable Portfolio

Traditionally recognized for its extensive pipeline network, Enbridge has been actively broadening its investments in renewable energy projects across North America. The Clear Fork project is a testament to this strategic shift, positioning the company to capitalize on the burgeoning demand for clean energy solutions driven by the technology sector's need to power energy-intensive data centers.

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.

• Meta Taps Calgary’s Enbridge for Solar Power in $900M Deal, iPhone in Canada.

• Canada's Enbridge to invest $900 mln in Texas solar project, Reuters.