DESRI and Meta sign PPA for 400MW of solar capacity

December 18, 2024
Facebook
Twitter
LinkedIn
Reddit
Email
DESRI's Alta Luna solar project.
The deal will cover power generated at two DESRI facilities in the US, with a combined capacity of 400MW. Image: DESRI.

Renewable energy developer D. E. Shaw Renewable Investments (DESRI) has signed a power purchase agreement (PPA) for 400MW of solar capacity with US technology giant Meta.

The deal will cover power generated at two DESRI facilities in the US, a 250MW project in the state of Missouri and a 150MW project in the state of Texas. Both projects are expected to reach commercial operation before the end of 2027, and connect to the Midcontinent Independent System Operator (MISO) grid.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

DESRI will operate the projects once they begin work. The company first purchased development rights for the Texas project in 2016 and currently has close to 3.2GW of solar capacity in operation in the US.

“Our renewable energy partnership with Meta has expanded to span five states, encompassing more than 1,200MWac of clean energy nationwide,” said Hy Martin, DESRI chief development officer. “These projects will support local rural economies and are part of DESRI’s long-term strategy of developing, owning and operating clean energy generation sources in close proximity to new load growth, particularly with our corporate data centre customers in MISO and beyond.”

The news follows DESRI and Meta’s signing of a PPA for a 200MW solar project in Arkansas in 2022, and the former’s commissioning of an 80MW solar project in Utah in May of this year. In September, Australian investment bank Macquarie Asset Management acquired a minority state in the developer for US$1.73 billion, an investment that could help the company expand further.

The growing power demand of data centres, in particular, is becoming more apparent in the power industry. Earlier this year, renewable energy asset owner Brookfield and Microsoft signed the largest offtake agreement in history, for 10.5GW of capacity. In October, Chris Rauscher, head of grid services of virtual power plants (VPPs) at Sunrun told PV Tech Premium that VPPs could help provide “very fast, very flexible clean energy” to data centres in particular.

21 October 2025
New York, USA
Returning for its 12th edition, Solar and Storage Finance USA Summit remains the annual event where decision-makers at the forefront of solar and storage projects across the United States and capital converge. Featuring the most active solar and storage transactors, join us for a packed two-days of deal-making, learning and networking.
16 June 2026
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 16-17 June 2026, will be our fifth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2027 and beyond.

Read Next

October 15, 2025
The average price of a solar PPA signed in North America increased 4% between the second and third quarters of 2025, according to LevelTen.
October 15, 2025
Independent power producer (IPP) Geronimo has begun construction on it’s150MW solar project in Illinois and commissioned the 125MW PV project in Michigan.
Premium
October 14, 2025
OCI Holdings’ decision this week to buy a Vietnamese solar wafer facility to supply the US solar cell manufacturing industry makes clear the biggest vulnerability facing the sector today.
October 14, 2025
German IPP wpd has started construction at its 140.6MW Marcy solar park in the Nièvre department of central France.
October 14, 2025
Apple will support 650MW of projects as part of a major expansion of its renewable energy investments in Europe, aimed at reducing its carbon footprint.
Premium
October 13, 2025
Brett Beattie of Castillo Engineering looks at some of the key land grading work that can make multimillion-dollar differences to projects.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK