Corporate PPA: Meta signs 134 MWdc PPA with bp for Arche solar project in Ohio
- Jan 13, 2023 10:16 am GMT
The corporate power purchase agreement (PPA) covers the entire output from the 134 MWdc (107 MWac) Arche Solar project, located in Fulton County in Ohio. Texas-based 7x Energy performed early development work on the project and then sold it to bp in mid-2021 as part of a larger $220mn deal for ~9 GW of solar development opportunities. Following the transaction, Lightsource bp has been developing the project on behalf of bp, enabling the oil major to reach its target of installing 20 GW of net renewable capacity by 2025 and 50 GW by 2030. Construction of the 675-acre site, which is also managed by Lightsource bp, commenced on Oct’22. The project is set to go live in early 2024. The PPA will increase Meta’s solar power usage in Ohio, where the company already has investments in the 150 MW Hardin solar farm in Hardin County owned by Dominion Energy.
The PPA follows over 11 similar agreements signed across the US in 2022 by Meta, enabling the tech giant to source renewable energy for its data centers. The contracts include a 720 MW PPA with Silicon Ranch in Georgia and Tennessee, a 200 MW PPA with DE Shaw Renewable Investments (DESRI) in Arkansas, and a 156 MW PPA with EDP in Texas. The current PPA will provide solar power to Meta’s Ohio data center campus in New Albany. The facility was launched in 2020, and on Apr '22, Meta announced an expansion that will see two buildings added to the site, totaling around 1 million square feet (92,900 square meters).
Meta has managed to scale the use of solar power rapidly over the last three years, escalating from only 177 MW in 2019. The company has also been at the forefront of adopting energy storage systems to maximize the reliability and flexibility of utility systems and enable a much lower carbon footprint. Meta has existing partnerships with the Public Service Company of New Mexico and the Tennessee Valley Authority to add battery energy storage systems to the grid in New Mexico, Kentucky, and Mississippi. Enerdatics understands that more such PPAs and partnerships are expected to happen in the future, with the company planning to reach net zero emissions across its value chain by the end of 2030.
The above analysis is proprietary to Enerdatics’ energy analytics team, based on the current understanding of the available data. The information is subject to change and should not be taken to constitute professional advice or a recommendation.
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