Latest news with #MatthewAkman
Yahoo
23-07-2025
- Business
- Yahoo
Enbridge reaches FID on 600MW Clear Fork solar project
Enbridge has announced a final investment decision (FID) on the Clear Fork solar project near San Antonio in the US state of Texas. The 600 MW utility-scale facility is expected to commence operations by summer 2027. Enbridge's commitment involves an estimated $900m for construction. This investment is anticipated to be accretive to both cash flow and earnings per share from 2027 onwards. Meta Platforms has entered a long-term agreement to gain access to all renewable energy produced by Clear Fork. Enbridge renewable power president and corporate strategy executive vice-president Matthew Akman stated: "Clear Fork demonstrates the growing demand for renewable power across North America from blue-chip companies who are involved in technology and data centre operations. "Enbridge continues to advance its world-class renewables development portfolio using our financial strength, supply chain reach and construction expertise under a low-risk commercial model that delivers strong competitive returns." Construction on the Clear Fork site is already underway. In addition, Enbridge has also invested $8bn in green initiatives since its initial wind farm investment back in 2002, as reported by Bloomberg. The company's portfolio now includes 23 wind farms, 13 solar facilities and one geothermal plant. Together, these projects generate sufficient electricity to supply 1.3 million homes with power. Meta Global Energy head Urvi Parekh stated: "We are thrilled to partner with Enbridge to bring new renewable energy to Texas and help support our operations with 100% clean energy.' In June 2025, Meta Platforms agreed with XGS Energy to facilitate the development of a 150MW geothermal energy project in New Mexico. The project will be implemented in two phases, with the initial smaller phase and the larger second phase both operational by 2030. "Enbridge reaches FID on 600MW Clear Fork solar project" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Calgary Herald
22-07-2025
- Business
- Calgary Herald
Meta 'thrilled' to partner with Enbridge on US$900M solar farm
Article content Calgary-based Enbridge's new solar facility near San Antonio, Texas, will help power Meta's data centre boom. Article content Dubbed Clear Fork, construction on the utility-scale solar facility is underway. When it's expected to complete in 2027, the farm will have a capacity of 600 megawatts. Article content Meta Platforms, Inc., which owns applications like Facebook, Instagram and WhatsApp, has signed a long-term contract for 100 per cent of the renewable output of the project, according to Enbridge. Article content Article content The project demonstrates growing demand for renewable power across North America, particularly from companies involved in technology and data centre operations, said Matthew Akman, executive vice president of corporate strategyu and president, power at Enbridge. Article content
Yahoo
22-07-2025
- Business
- Yahoo
Canada's Enbridge to invest $900 million in Texas solar project
(Reuters) -Energy infrastructure company Enbridge said on Tuesday it had reached a final investment decision to invest $900 million on a 600 megawatt solar power project in Texas, as demand for clean energy from tech companies drives growth in renewables. Meta Platforms has signed a long-term contract to purchase 100% of the project's renewable output to help power its regional operations. Meta is among the several large tech firms investing in renewable energy to power their data centers. The Clear Fork project, located near San Antonio, is expected to become operational by 2027. "Clear Fork demonstrates the growing demand for renewable power across North America from blue-chip companies who are involved in technology and data center operations," said Matthew Akman, Enbridge's executive vice president of corporate strategy and president of power. Project construction is already underway and Enbridge expects the project to be accretive to its cash flow and earnings starting 2027.
Hamilton Spectator
22-07-2025
- Business
- Hamilton Spectator
Enbridge to invest US$900 million on solar project supporting Meta's data centres
CALGARY - Enbridge Inc. says it will invest US$900 million on a 600-megawatt solar project that will support Meta Platforms, Inc.'s data centre operations. The Calgary-based pipeline company says construction is underway for the project dubbed Clear Fork, located near San Antonio, Texas. Service at the facility is expected to begin during the summer of 2027. Meta, which owns social media and messaging platforms such as Facebook, Instagram and WhatsApp, has signed a long-term contract for 100 per cent of the project's renewable output. Meta's head of global energy Urvi Parekh says the company is 'thrilled to partner with Enbridge to bring new renewable energy to Texas and help support our operations with 100 per cent clean energy.' Enbridge's executive vice-president of corporate strategy Matthew Akman says Clear Fork 'demonstrates the growing demand for renewable power across North America from blue-chip companies who are involved in technology and data centre operations.' This report by The Canadian Press was first published July 22, 2025. Companies in this story: (TSX:ENB)
Winnipeg Free Press
22-07-2025
- Business
- Winnipeg Free Press
Enbridge to invest US$900 million on solar project supporting Meta's data centres
CALGARY – Enbridge Inc. says it will invest US$900 million on a 600-megawatt solar project that will support Meta Platforms, Inc.'s data centre operations. The Calgary-based pipeline company says construction is underway for the project dubbed Clear Fork, located near San Antonio, Texas. Service at the facility is expected to begin during the summer of 2027. Meta, which owns social media and messaging platforms such as Facebook, Instagram and WhatsApp, has signed a long-term contract for 100 per cent of the project's renewable output. Meta's head of global energy Urvi Parekh says the company is 'thrilled to partner with Enbridge to bring new renewable energy to Texas and help support our operations with 100 per cent clean energy.' Enbridge's executive vice-president of corporate strategy Matthew Akman says Clear Fork 'demonstrates the growing demand for renewable power across North America from blue-chip companies who are involved in technology and data centre operations.' Weekly A weekly look at what's happening in Winnipeg's arts and entertainment scene. This report by The Canadian Press was first published July 22, 2025. Companies in this story: (TSX:ENB)
