Meta has announced a long-term power purchase agreement (PPA) with EDP Renewables North America. This deal allows Meta to source energy from the Cypress Knee Solar project, which EDP is set to establish in southeast Arkansas. The announcement was made on Monday.
EDP expects the Cypress Knee Solar project to be completed by 2028. The project is projected to begin commercial operations in the upcoming year.
According to EDP, Cypress Knee Solar is projected to generate over $25 million in additional funds for Chicot County through an Industrial Revenue Bond agreement throughout its 30-year lifespan.
This agreement marks the third collaboration between EDP Renewables and Meta, now totaling 545 MW of energy procurement between the two companies.
The deal is vital for Meta as it strives to source 100% of its electricity from clean and renewable energy. On its website, Meta highlights its commitment to collaborating with energy providers on long-term PPAs to ensure sustainable energy use.
Chicot County is adjacent to Louisiana, where Meta is actively investing in energy infrastructure to support its $27 billion Hyperion data center in Richland Parish. Furthermore, in March, Entergy Louisiana solidified a deal to provide 5.2 GW of natural gas capacity to bolster the Hyperion project.