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Friday, May 31, 2019

Facebook To Financing A Massive Solar Farm


Facebook is investing heavily in a massive solar farm in Texas as it rumbles towards its goal of running entirely on renewable energy by the end of next year.

Longroad plans to have the farm up and running next year, and it's expected to have a capacity of 379 megawatts, which would be enough to power almost 300,000 homes.

It's the first time Facebook has invested directly in a renewable energy project. It's not clear exactly how much of the $416 million financing package Facebook covered, but it said it's contributing a "significant" portion of the total costs.

As of last year, 75 percent of Facebook's business runs on renewable energy. Other tech major companies already run on renewable energy or plan to do so.

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