Meta Platforms Signs Long-Term Solar PPA With RWE for 298 MW Texas Project

Meta Platforms (NASDAQ: META) has signed a long-term corporate power purchase agreement (PPA) with energy company RWE for electricity generated by the Rabbit's Foot Solar project, a 298-megawatt (MWac) facility located in northeast Texas. The deal expands an existing partnership between the two companies and adds a new contracted renewable energy source to Meta's power supply portfolio. META shares last traded at $560.64 on Thursday, June 11, 2026.

Deal Terms

• The Rabbit's Foot Solar project has a nameplate capacity of 298 megawatts (MWac), according to the joint announcement from RWE and Meta.
• The agreement is structured as a long-term corporate PPA, under which Meta will purchase electricity generated by the project directly from RWE.
• The project is sited in northeast Texas, a region with significant solar irradiance that supports consistent generation capacity.
• The deal represents an expansion of an existing commercial relationship between Meta and RWE, not a new counterparty arrangement.

Why It Matters

Under a corporate PPA structure, Meta commits to purchasing power at a negotiated rate over a fixed term, providing RWE with revenue certainty to finance and operate the solar asset while giving Meta a predictable, contracted energy cost for a portion of its electricity load. This type of agreement directly supports Meta's data center operations, which require large and reliable power supplies as the company scales its AI infrastructure.

The Texas location is relevant to Meta's operational footprint. The state hosts significant data center capacity across the technology sector, and securing local generation through a long-term PPA can reduce exposure to spot electricity price volatility. By contracting 298 MW of solar capacity, Meta adds a meaningful block of renewable power to its energy mix without taking on direct ownership or construction risk for the underlying asset.

Wall Street View

Analyst sentiment on META remains constructive. As of June 1, 2026, the consensus stood at 22 Strong Buy ratings, 41 Buy ratings, and 9 Hold ratings, with no Sell or Strong Sell recommendations on record. Recent coverage from Truist and Bank of America has highlighted Meta's subscription and AI monetization potential as forward catalysts, with Truist flagging a potential $20 billion business line by 2030. The company's forward P/E of 15.5x (TTM, may not reflect the latest quarter) suggests the market is pricing in continued growth from current operations.

Investor Takeaway

The Rabbit's Foot Solar PPA adds 298 MW of contracted renewable generation for Meta, reinforcing its energy strategy as AI-driven data center demand continues to grow. The long-term structure with an established counterparty in RWE limits procurement risk while providing cost visibility. For investors, the deal is less a near-term financial catalyst and more a signal that Meta is actively securing the power infrastructure its expanding AI workloads require.