View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
November 22, 2019

Facebook agrees power purchase agreement with Apex Clean Energy

Facebook has agreed to purchase power from Apex Clean Energy’s Altavista solar farm in the state of Virginia when it becomes operational in 2020 as part of a power purchase agreement.

By Jack Unwin

Global social media giant Facebook has agreed to purchase power from Apex Clean Energy ’s Altavista solar farm in the state of Virginia when it becomes operational in 2020 as part of a power purchase agreement (PPA).

Free Report
img

Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

Altavista solar farm will have a capacity of 80MW when completed, with Facebook’s PPA accounting for 61.6MW of the total. It will be APEX ’s largest solar project and its first renewable energy project on the East Coast of the US.

Facebook will use the energy produced from the solar farm to power its operations in Virginia. It will support the company’s target of reducing its carbon emissions by 75% and be powered by 100% renewable energy by 2020.

Apex Clean Energy CEO Mark Goodwin said: “Facebook is a clear leader in driving the transition to a new energy economy and working to lay the foundation for other companies, large and small, to achieve significant carbon reduction goals with cost-competitive renewable energy.”

Facebook head of renewable energy Urvi Parekh said: “We are happy to be partnering with APEX once again to add new renewable energy to the grid and bring additional investment to the state of Virginia.

“Facebook has set an ambitious goal of supporting its global operations with 100% renewable energy in 2020, and we appreciate APEX ’s partnership as we work to reach that goal.”

This is the second PPA agreed by Facebook and APEX in 2019. In September Facebook agreed to purchase 200MW of power from the 525MW Aviator windfarm in Texas when the windfarm is completed in 2020.

Facebook is the largest corporate buyer of renewable energy in the US, with 2.2GW purchased in 2018. It continued this trend in 2019, partnering with Dominion Energy to create six solar farms in Virginia and South Carolina with a total capacity of 350MW for example.

Related Companies

Free Report
img

Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Wednesday. The power industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Power Technology