Facebook Has Inked A Renewable Energy Pact With CleanMax

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Renewable energy company CleanMax has signed a deal with social media giant Facebook for co-running a portfolio of wind and solar projects across India that will supply clean energy into the electrical grid. The 32 MW wind power project is located in southern Karnataka state. As part of the deal, CleanMax will own and operate the projects, Facebook will provide long-term support by committing to purchase 100 percent of the environmental attribute certificates (EACs) from the projects for years to come.

A number of cleantech companies have emerged in the past few years and they are working with mega-corporations as well as government agencies to reduce the reliance on fossil fuel or other non-clean energy sources. As per the India Brand Equity Foundation, India was ranked fifth in wind power, fifth in solar power, and fourth in renewable power installed capacity, as of 2019.

Facebook’s head of renewable energy, Urvi Parekh, told Reuters the company typically doesn’t own the power plants but instead signs “long-term” electricity purchasing agreements with the renewable power company. That enables the project to seek out the financing that it would need. The electricity generated from these plants will power the tech giant’s first Asian data center, she added, which Facebook previously said was expected to start operations next year.

Facebook also announced that the company has reached its 100% renewable energy and net zero-emission goals for its global operations.

The company has similar partnerships overseas, where it partners with clean energy companies to power its operations around the world. It had announced a virtual power purchase agreement (VPPS) in Singapore with solar energy company Sunseap Group, Terrenus Energy, and Sembcorp Industries on projects that can produce hundreds of megawatt of solar power.

“We have always strived to develop innovative solutions to help our clients achieve their 100 percent renewable ambitions. Given the constraints in sourcing power to many facilities, we are working with forward-thinking corporations like Facebook to find creative solutions to these problems,” CleanMax co-founder and Chief Commercial Officer Andrew Hines said.

Also, Read This: Four Districts In Uttar Pradesh Attracted Investment Worth INR 1583 Crores

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