Facebook Power Purchase Agreement

“Facebook was looking for new flexibility to meet our renewable energy goals, which was different from the many purchases we`ve made so far,” a company spokesperson told Greentech Media. “Investing in this project gives us that flexibility, while giving us the opportunity to usefully influence the development of additional new projects.” Aviator Wind, developed by Apex Clean Energy and owned by funds managed by Ares Management Infrastructure and Power, is expected to enter service in 2020 and is expected to generate enough electricity to power the equivalent of 196,000 homes. The project will be the largest single-phase wind project of the Electric Reliability Council of Texas (ERCOT) and the largest single-site wind project in the United States. This is the first Virtual Power Agreement (VPPA) between Sunseap Group and Facebook and Singapore`s largest solar capacity agreement under a VPPA. A VPPA is a contractual structure in which an electricity buyer agrees to purchase the renewable energy of a project at a pre-agreed price. The energy can be produced from a renewable energy project that is located outside the company`s site, but is located on the same grid. In this case, the renewable energy credits (RECs) Facebook will receive will come from electricity from solar modules exported from Sunseaps solar projects on The rooftops of Lawrence Wu, said the president and chief executive of the Sunseap Group: “We are very pleased to be working with Facebook to put in place a virtual power purchase contract for Singapore and the rest of the region. We believe that VPPA is the way forward for companies, as they accelerate efforts to supplement their energy mix with renewable energy. This is a radical change in Asia`s efforts to decarbonize carbonization and combat climate change. Facebook designs, builds and operates some of the most efficient computing centers in the world. To date, Facebook has signed more than 5.4 gigawatts of new renewable energy to support its global operations.