DESRI and Meta sign 850 MW of new power purchase agreements, pushing partnership past 2.5 GW

Meta and D.E. Shaw Renewable Investments (DESRI) have locked in 850 MW of new power purchase agreements for 2026, bringing the total contracted capacity between the two companies to roughly 2,575 MW across nine US states.

The new deals cover projects in Oklahoma (500 MW), Texas (200 MW), and Mississippi (150 MW). DESRI expects about 1,110 MW of the overall portfolio to break ground this year, a construction wave the company says will create hundreds of jobs across the states involved.

The projects span solar generation and battery storage. Meta is locking in long-term contracts to buy electricity from solar farms that DESRI builds and operates, with batteries attached to store excess power for later use. These are utility-scale installations spread across multiple states.

DESRI has also committed to scholarship funding for high-school students pursuing clean-energy careers in the states where these Meta-backed projects are located.

Meta has made public commitments to match its electricity usage with renewable energy purchases. These PPAs don’t mean Meta’s data centers run directly on solar panels. They mean Meta is buying enough renewable energy credits and contracted power to offset its grid consumption on paper, and increasingly, to directly supply facilities where grid connections allow it.

Corporate power purchase agreements have become the primary mechanism through which Big Tech funds new renewable energy construction. A developer like DESRI builds a solar or wind farm, and a corporate buyer like Meta agrees to purchase the output at a fixed price over a long-term contract. That guaranteed revenue stream is what makes the projects financeable.

The 1,110 MW of projects expected to begin construction this year from this single partnership illustrates the scale and speed at which this buildout is happening. That’s over a gigawatt of new capacity moving from contract to shovel in a 12-month window.