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Market Chatter: Meta Platforms Signs Contracts to Acquire Green Credits From Invenergy
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Market Chatter: Meta Platforms Signs Contracts to Acquire Green Credits From Invenergy
Dec 5, 2024 6:15 AM

08:54 AM EST, 12/05/2024 (MT Newswires) -- Meta Platforms ( META ) has struck agreements with Invenergy to buy green credits from four of its US solar energy projects, Reuters reported Thursday, citing the companies.

Financial details weren't disclosed.

Under the terms of the contracts, Meta will buy 760 megawatts of solar electricity from Invenergy, the report said, adding that the projects will connect to the power grid between 2024 and 2027 in Ohio, Texas, New Mexico, and Arkansas.

The social media company will receive green credits from the energy projects instead of using power directly generated from the projects to support its own operations, according to the report.

Neither Meta nor Invenergy immediately responded to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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