Meta Platforms has signed agreements to buy environmental attributes from two of Sunraycer Renewables’ projects in Texas with a combined capacity of 240 megawatts alternating current (MWac)/310 megawatts defined conditions (MWdc).
The environmental attribute purchase agreements will facilitate the construction of the first projects in Sunraycer’s 4GWac portfolio of solar and battery facilities.
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The Midpoint solar project, located in Hill County, Texas, will contribute 97.5MWac to the Electric Reliability Council of Texas (ERCOT) grid.
Scheduled to commence commercial operations late in the fourth quarter of 2025, the Midpoint project marks a significant milestone in the state’s clean energy development.
The Gaia solar project in Navarro County will add 143MWac to the ERCOT grid, with its operational timeline aligning with the Midpoint Solar project.
Sunraycer CEO David Lillefloren said: “This partnership with Meta underscores our commitment to delivering high-quality, utility-scale solar projects that drive the transition to clean energy.
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By GlobalData“We are proud to support ERCOT’s energy diversification efforts, while helping Meta meet its ambitious sustainability goals.”
Sunraycer’s expansion strategy includes strengthening partnerships with financial institutions, equipment manufacturers, and other clean energy stakeholders.
The company’s accelerant programme offers an innovative approach to collaboration with smaller developers, providing them with flexible capital solutions and comprehensive operational support.
Meta global head of energy Urvi Parekh stated: “We’re excited to support Sunraycer’s efforts to bring two solar projects to the grid in Texas.
“These projects will support our goals to match our operations with 100% clean and renewable energy.”
Sunraycer has also recently secured a $475m project financing facility, elevating its total capital to $675m since November 2024.
The financing, facilitated by MUFG Bank, Nomura Securities International and Norddeutsche Landesbank, comprises a construction-to-term loan and a tax credit bridge loan, made possible by the Inflation Reduction Act’s input tax credit transferability provisions.
