US independent power producer (IPP) Adapture Renewables and technology giant Meta have signed two environmental attributes purchase agreements (EAPAs) that will see the latter acquire power from a 360MW solar portfolio to be developed by the former.
The portfolio will consist of two PV projects located in Texas, at which Adapture expects to begin commercial operation in 2027. The projects will be connected to the Electric Reliability Council of Texas (ERCOT) grid and follow the signing of a similar deal for three projects in 2023. Adapture and Meta have now signed agreements covering nearly 700MW of solar capacity.
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“By structuring long-term agreements that balance risk and value for both parties, we’re helping to scale meaningful projects while enabling our partners to meet their clean energy goals,” said Jesse Tippett, VP of origination at Adapture.
According to Adapture the power will be used to help meet growing demand for clean power driven “by the rapid growth of data centres and AI technology”. A report from the International Energy Agency (IEA) expects global electricity demand from data centres to more than double by 2030, and tech giants have been leaders in the offtake space for years.
Figures from Pexapark show that Amazon was responsible for the two largest renewable energy offtake agreements by capacity in 2024, acquiring close to 1GW of capacity through just two deals, in Spain and Greece.
The news follows Adapture’s reaching of a number of project milestones, including the acquisition of a solar-plus-storage project in California and the securing of a US$321 million debt facility for a US portfolio.
