Meta has entered into 20-year agreements to purchase power from three Vistra nuclear plants and collaborate on small modular reactor projects with two companies.
Meta announced on Friday that it has secured 20-year agreements to purchase power from three nuclear plants operated by Vistra Energy. The company also plans to collaborate with two firms focused on developing small modular reactors (SMRs).
According to Meta, the power purchase agreements will involve Vistra’s Perry and Davis-Besse plants in Ohio, as well as the Beaver Valley plant in Pennsylvania. These agreements are expected to facilitate financial support for the expansion of the Ohio facilities while extending their operational lifespan. The plants are currently licensed to operate until at least 2036, with one of the reactors at Beaver Valley licensed to run through 2047.
In addition to the power agreements, Meta will assist in the development of small modular reactors being planned by Oklo and TerraPower. Proponents of SMRs argue that these reactors could ultimately reduce costs, as they can be manufactured in factories rather than constructed on-site. However, some industry experts remain skeptical about whether SMRs can achieve the same economies of scale as traditional large reactors. Currently, there are no commercial SMRs operating in the United States, and the proposed plants will require regulatory permits before construction can begin.
Joel Kaplan, Meta’s chief global affairs officer, emphasized the significance of these agreements, stating that they, along with a previous agreement with Constellation to maintain an Illinois reactor’s operation for another 20 years, position Meta as one of the largest corporate purchasers of nuclear energy in U.S. history.
Meta’s agreements are projected to provide up to 6.6 gigawatts of nuclear power by 2035. The company will also help fund the development of two reactors by TerraPower, which are expected to generate up to 690 megawatts of power as early as 2032. This partnership grants Meta rights to energy from up to six additional TerraPower reactors by 2035. Chris Levesque, President and CEO of TerraPower, noted that this agreement will facilitate the rapid deployment of new reactors.
The trend of tech companies investing in nuclear energy has been gaining momentum. Last October, both Amazon and Google announced plans to invest in the development of small nuclear reactors, a technology that is still in its nascent stages. These initiatives aim to address the high costs and lengthy construction timelines that have historically hindered new reactor projects in the U.S.
Meta, along with other major tech firms such as Amazon and Google, has signed the Large Energy Consumers Pledge, committing to help triple the nation’s nuclear energy output by 2050. As these companies expand their artificial intelligence centers, they are becoming significant contributors to the increasing energy demands in the United States. Other notable organizations, including Occidental and IHI Corp, have also joined this initiative, indicating widespread corporate support for the nation’s nuclear energy goals.
As the energy landscape continues to evolve, Meta’s strategic investments in nuclear power reflect a growing recognition of the role that nuclear energy can play in meeting future energy needs.
According to The American Bazaar, these developments highlight a broader trend among tech companies to embrace nuclear energy as a sustainable solution to rising energy demands.