July 22 (Reuters) - Energy infrastructure company
Enbridge ( ENB ) said on Tuesday it had reached a final
investment decision to invest $900 million on a 600 megawatt
solar power project in Texas, as demand for clean energy from
tech companies drives growth in renewables.
Meta Platforms ( META ) has signed a long-term contract to
purchase 100% of the project's renewable output to help power
its regional operations.
Meta is among the several large tech firms investing in
renewable energy to power their data centers.
The Clear Fork project, located near San Antonio, is
expected to become operational by 2027.
"Clear Fork demonstrates the growing demand for renewable
power across North America from blue-chip companies who are
involved in technology and data center operations," said Matthew
Akman, Enbridge's ( ENB ) executive vice president of corporate strategy
and president of power.
Project construction is already underway and Enbridge ( ENB )
expects the project to be accretive to its cash flow and
earnings starting 2027.
(Reporting by Arunima Kumar in Bengaluru; Editing by Shinjini
Ganguli)