Meta can’t get enough of that sunshine!

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This week, the social media giant announced an expansion of its partnership with ENGIE North America, signing new power purchase agreements (PPAs) that push their joint solar portfolio to more than 1.3 gigawatts of clean energy across four massive projects in Texas.

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That’s enough juice to power over 250,000 homes, or, in Meta’s case, an ever-growing fleet of energy-hungry data centers.  It’s also another powerful signal that Big Tech isn’t eschewing solar in its quest for cheap, reliable electricity. 

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It’s also a powerful signal that Big Tech isn’t just flirting with renewables anymore. It’s locking in industrial-scale commitments to secure uninterrupted supplies of electricity that are paramount to operational effectiveness and of course, profitability. 

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It’s not green credibility.  It’s just smart business.

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There’s no question that data centers are huge power hogs.

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AI training runs, machine learning pipelines, and crypto mining powerhouses require staggering amounts of electricity. In some regions, a single hyperscale data center can consume as much power as a small city.

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So when a company like Meta signs long-term PPAs for solar energy, it’s not doing so for some “green” credibility.  It’s doing it because it’s smart business.  It’s doing it because this is one of many ways the company can hedge against energy volatility and unpredictable pricing from legacy fossil fuel power plants.   And it’s doing it with companies that are not only providing solar, but back-up battery storage as well.  And therein lies the rub.

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You see, ENGIE North America also has ~2 GW of operational grid-scale storage in North America with about another 2 GW under construction.  We believe there will actually be even more in 2026 because the concept of energy storage is no longer a niche.  It’s a platform. Simply put:  if you’re using solar, you’re also using storage. Because if you’re servicing huge data centers, which require unobstructed reliability, you need storage.  It’s just not an option, anymore.   This is why we’re particularly bullish on solar developers that also provide battery backup. 

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To be honest, solar developers that lack access to battery backup will ultimately go the way of the typewriter and rotary phone.  I don’t say this to be crass.  It’s merely an observation of truth.

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One company in particular that’s been using its solar and backup battery systems to lock in millions of dollars worth of contracts in the U.S. and Canada is PowerBank (NASDAQ: SUUN).  The company currently has nearly $200 million in assets built and under management.  

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Worth noting: Just a couple weeks ago, PowerBank announced a major deal with the New York State Division of Military and Naval Affairs (DMNA) for the development of a 20 MW portfolio of ground mounted solar, rooftop and parking canopy solar power projects, and battery energy storage systems. 

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If you’re unfamiliar, the DMNA is New York’s executive agency responsible for managing the state’s military forces, which consists of nearly 20,000 personnel.

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This particular project will be located at a variety of New York Army National Guard facilities across New York State, and serve these 20,000 military personnel for a minimum of 20 years. This is a big deal.  Here’s more: https://powerbankcorp.com/20-mw-of-solar-and-bess-power-purchase-agreements-secured-by-powerbank-with-the-new-york-state-division-of-military-and-naval-affairs-dmna/

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