|
Getting your Trinity Audio player ready...
|
Enbridge Inc. has finalized a $900 million investment in the Clear Fork Solar Project, a 600-megawatt utility-scale facility near San Antonio, Texas, set to begin operations by summer 2027. The project will supply 100% of its renewable output to Meta Platforms Inc. under a long-term power purchase agreement (PPA), supporting Meta’s data center operations across the region.
⚡ Strategic Partnership and Clean Energy Goals
- The Clear Fork project reflects growing demand for renewable energy from technology and data center companies.
- Meta’s Head of Global Energy, Urvi Parekh, stated: “We are thrilled to partner with Enbridge to bring new renewable energy to Texas and help support our operations with 100% clean energy”.
📈 Financial and Operational Outlook
- Enbridge expects the project to be accretive to earnings and cash flow starting in 2027.
- The company will leverage its financial strength, supply chain reach, and construction expertise under a low-risk commercial model.
🌍 Renewable Infrastructure Expansion
- Clear Fork is among the largest single-site solar projects in Texas and builds on Enbridge’s broader renewables portfolio, which includes solar, wind, and battery storage assets across North America.
- The project may benefit from federal and state-level clean energy incentives, including the U.S. Investment Tax Credit (ITC) program.
This initiative strengthens Enbridge’s position in sustainable infrastructure and reinforces Meta’s leadership as a major corporate buyer of renewable energy. Let me know if you’d like this adapted into an ESG briefing or investor summary.
