DE Shaw Renewable Investments (DESRI) recently announced the signing of a long-term renewable energy offtake agreement with Facebook parent company Meta. DESRI will supply clean energy to support Meta’s operations via a Power Purchase Agreement (PPA) through the 200 MWac Long Lake Project in Phillips County, Arkansas.
“We are excited to partner with Meta on the Long Lake project and now count more than 850 MWac of clean energy nationwide to support their operations,” said Hy Martin, DESRI’s Chief Development Officer.
Meta is one of the largest corporate buyers of renewable energy. As of 2021, they had contracts for more than 7,500 MW of solar and wind power in their global portfolio, of which over 4,900 MW are operational.
So far, Meta has 100 percent achieved renewable energies for their global operations.
This project is an important part of helping us reach our goal of 100% renewable energy as we grow.
—said Urvi Parekh, Head of Renewable Energy Department at Meta.
In addition to providing clean energy to Meta, Long Lake is expected to provide significant benefits to local communities, including creating jobs in construction and promoting other local economic developments.
“We appreciate the continued support of the Phillips County community and are excited to develop this solar array to meet Meta’s renewable energy needs while providing economic opportunity,” said Martin.
Acadian Renewable Energy, a joint venture between SunChase Power and Eolian, led the initial development of Long Lake.
DESRI is part of the DE Shaw Group and has a combined solar and wind capacity of over 6 GW. It will be the long-term owner and operator of Long Lake.
*Cover photo: DESRI