In a nutshell
Meta, the parent company of Facebook, Instagram, WhatsApp, and other social media platforms, signed a power purchase agreement on March 18 with RWE Clean Energy, a German company focused on renewable energy.
Two-minute impact
According to a news release, the Waterloo Solar Project is set to begin construction later this year. Once operational, it is expected to generate a $2 million annual boost to the local economy and $49 million in cumulative tax revenue over its 40-year lifetime.
Notable quote
“These collaborations enable us to continue investing in communities across America like Bastrop County, helping to stimulate job creation and economic prosperity, while simultaneously helping companies like Meta match the electricity use of their operations with clean and renewable energy,” Christoph Hunfeld, RWE’s chief commercial officer, said in the release.
