Meta inks solar EAPA with Cypress Creek in Texas

AI generated summary

Meta has entered into a renewable energy agreement in Texas, signing an Environmental Attribute Purchase Agreement (EAPA) with Cypress Creek Renewables to support the development of a 505MW solar facility named Hanson Solar in Coleman County. Construction is set to begin later this year, with operations anticipated to start in 2027. This partnership aims to provide clean energy for Meta's data center operations and contribute to the company's goal of utilizing 100% renewable energy.

Unlike traditional Power Purchase Agreements, EAPAs focus on acquiring environmental benefits through renewable energy credits rather than purchasing electricity directly. While Meta has signed multiple EAPAs in the past year to decarbonize its operations, critics argue that these agreements may lack transparency and effectiveness, raising concerns about potential greenwashing. Cypress Creek, a significant player in the renewable energy sector, has a robust portfolio with over 12GW of solar projects and a pipeline exceeding 20GW.