- Meta intends to purchase 200MW of renewable electricity.
- The project could generate up to USD 30 million annually.
Meta, formerly known as Facebook, has signed a long-term contract with Canadian power producing company TransAlta. The latter announced that Meta, based on the agreement, will buy 100% of the future power output of the 200MW Horizon Hill wind farm in Oklahoma.
Meta will be purchasing renewable electricity and environmental attributes produced by the plant under the terms of the agreement. The plant itself will be built in Logan County, costing between USD 290 million and USD 310 million. The project will be financed using the existing liquidity and tax equity.
The final quarter of 2022 will see construction works commence, and the farm is expected to have started its entire commercial operation by 2023. Vesta, of Danish origin, will supply Thirty-four turbines for the project, while the Infrastructure and Energy Alternatives (IEA) will be in charge of the engineering, procurement, and construction (EPC) aspect of the project.