US technology giant Meta has signed power purchase agreements (PPAs) with German firm RWE to acquire power from two of its solar farms in the US.
The portfolio consists of the 274MW County Run solar project in Illinois and the 100MW Lafitte solar project in Louisiana. RWE is currently completing construction work on both projects, and expects to commission them in late 2025, which will add to the company’s growing renewable power portfolio in the US. Earlier this year, the company started construction at its 150MW Casey Fork project in the state, and once these projects reach commercial operation, RWE’s total operating renewable power capacity in the state will reach around 900MW.
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Sustained investment in new projects was a key driving force behind RWE’s strong financial performance in 2023, which saw earnings in onshore wind and solar increase by 50.9% over the previous year. The company’s continued investment in the US is no surprise, considering that many regional utilities are looking to expand their renewable power portfolios. Earlier this year, Ernst & Young ranked the US the most attractive market for renewables investment and deployment opportunities, and last year, the US generated more electricity from solar sources in particular than any other G7 country.
“RWE’s continued investment in the US renewables market is underpinned by new opportunities to partner with leading technology companies like Meta, which are driving demand for clean energy to support their operations,” said Andrew Flanagan, RWE Clean Energy CEO.
Meta has been a very active player in the US PPA space, having signed a number of off-take agreements earlier this year. In June, the company agreed to acquire power from a Qcells project in California, and in March, it signed an agreement with Arevon Energy for a project in Missouri. The company already meets its entire electricity demand with power from renewable sources, but is keen to add to its renewable power portfolio as it expands its other operations.
