Meta, Origis Energy ink 303MW solar PV PPA in Texas

Meta's power purchase agreement (PPA) with Origis Energy for the 303MW Greyhound A Solar PV project in Texas represents a significant step in Meta's commitment to powering its operations with 100% renewable energy. This deal is part of a larger 1 GW solar PV portfolio in Texas developed by Origis Energy, indicating a substantial investment in renewable energy infrastructure within the state. The Greyhound A project is currently under construction, suggesting a near-term addition of renewable energy capacity to the grid. This PPA aligns with Meta's recent history of similar agreements in Texas, solidifying its position as a major corporate buyer of renewable energy. Origis Energy, as the developer and operator, benefits from securing a long-term revenue stream from a creditworthy offtaker like Meta. This PPA likely facilitates the financing and construction of the Greyhound A project. The deal underscores the growing trend of large technology companies directly procuring renewable energy to meet sustainability goals and hedge against volatile energy prices. The project's location in West Odessa, Texas, further highlights the state's attractiveness for solar energy development due to its abundant solar resources and favorable regulatory environment.