Avangrid enters into a sale and purchase agreement with Meta for 240 MW of Texas solar power

U.S. technology group Meta Platforms Inc (NASDAQ:META) has committed to source power from a proposed 240MW solar farm in Falls County, Texas, under a power purchase agreement (PPA) with Avangrid Inc (NYSE:AGR).

Avangrid unveiled the contract on Tuesday, saying the True North project will be the first solar farm in Texas after a series of onshore wind installations.

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The sustainable energy company expects the True North solar farm to be commercially operational by early 2025. The project will create over 200 local jobs during construction and operation, and will pay over US$40 million (€37.1 million) in property taxes over 25 years. Texas.

In addition, True North will support Meta’s commitment to powering its regional operations with 100% renewable energy, and in particular its new data center in Texas, according to a press release.

Avangrid is part of the Spanish communal group Iberdrola SA (BME:IBE).

(1 USD = 0.928 EUR)

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