This article first appeared on GuruFocus.
Meta Platforms (META, Financials) said it has signed 20 year agreements to purchase power from three Vistra nuclear plants in Ohio and Pennsylvania and to collaborate on small modular reactor development with Oklo and TerraPower. The agreements aim to provide up to 6.6 gigawatts of electricity by 2035, supporting Meta’s growing energy needs as artificial intelligence and data center operations expand.
It will acquire electricity from Vistra’s Perry, Davis-Besse, and Beaver Valley plants in Ohio and Pennsylvania. The purchase is planned to fund plant expansions and prolong their operating lifespans until 2036 and, in one instance, 2047.
Meta’s agreements with TerraPower and Oklo will promote compact modular reactors, a new nuclear technology for cheap industrial building. TerraPower may produce 690 megawatts by 2032 with two reactors and six more by 2035. Oklo’s Ohio projects might reach 1.2 GW by 2030.
Meta’s chief global relations officer, Joel Kaplan, said the transactions make Meta one of the biggest corporate nuclear power buyers in U.S. history. The plan follows Meta’s 2024 deal with Constellation to operate an Illinois reactor for the next two decades.
The move highlights Big Tech’s focus on long term sustainable energy sources as AI technology drives historic U.S. power consumption.