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RWE collaborates with Facebook on solar project in US – Facebook Stock Company, RWE Shares Red | 05/19/21

RWE Renewables announced that it has partnered with Facebook and the Tennessee Valley Authority (DVA) to implement a 150 MW installed solar project in Shelby County, Tennessee, USA. Following the expected commission at the end of 2023, Facebook wants to use 110 megawatts of solar power to run a data center in Tennessee.

As explained by the RWE, the basis for the implementation of the solar project is a long-term power purchase agreement with DVA. The Tennessee Valley Authority is a U.S. company that supplies electricity to business customers and local utility companies. The solar project is part of DVA’s Green Investment Plan to expand generation capabilities based on renewable energy in Shelby County.

According to further information, RWE will own and operate 100 per cent stake in the plant. The decision on investment in the solar system is yet to be made once the approval process is complete.

Facebook shares went red over the course of the day and most recently added 0.10 percent to 310.24 percent on the Nasdaq. Through XETRA, RWE shares fell 1.03 percent to வழியாக 31.79.

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