Key insights
- Meta and DESRI expanded their renewable energy partnership with 850 MW of new projects across three states, totaling 2.575 GW across nine states. This investment signals continued growth in the renewable energy sector and positive ESG initiatives from large tech companies, with a minor positive influence on market sentiment.
D.E. Shaw Renewable Investments (DESRI) and Meta Platforms (META) announced power purchase agreements for 850 megawatts of renewable energy capacity scheduled for 2026. The agreements include 500 MW in Oklahoma, 200 MW in Texas, and 150 MW in Mississippi.
The companies have now contracted approximately 2,575 MW of solar and battery storage projects across nine states. The partnership represents Meta’s strategy to add new generation capacity to electrical grids.
"Our energy infrastructure partnership with Meta now spans nine states and more than two and a half gigawatts across the country," said Hy Martin, Chief Development Officer of DESRI. "These projects support Meta’s energy commitments and they will generate significant economic development for local rural economies across the country."
Amanda Yang, Head of Clean and Renewable Energy at Meta, said the expanded partnership reflects the company’s commitment to supporting communities where it operates.
Previously contracted projects between the companies include 150 MW in Texas, 300 MW in Utah, and 100 MW in New Mexico. DESRI expects approximately 1,110 MW of contracted projects to begin construction this year.
The company stated each project will create hundreds of construction jobs during development. DESRI includes funding for high school scholarships in several power purchase agreements for students pursuing clean energy careers.
The information comes from a joint press release statement from both companies.