Fengate to power Meta from 160-MW newly-acquired wind project in Texas

North American alternative investment manager Fengate Asset Management on Thursday said it has acquired a 160-MW shovel-ready wind project in Texas and announced a long-term power off-take deal with Meta Platforms Inc (NASDAQ:META).

The specific scheme, dubbed Prairie Switch, was sold by EnCap Investments-backed developer Triple Oak Power. The value of the transaction was kept under wraps.

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To be built near the city of El Campo in Wharton County, outside of Houston, the wind farm is planned to be equipped with 48 turbines by GE Renewable Energy. The 3.4 MW machines are expected to be put on stream by the end of next year.

Once in operation, Prairie Switch will feed its entire output to supply Meta’s operations. The term of the power purchase agreement (PPA) was not specified.

Fengate noted that the acquisition is aligned with its build-to-core strategy and its commitment to invest in renewables.