RWE partners with Facebook on a solar energy project in the USA – Facebook Inc. Share, RWE shares red | 05/19/21

The energy company RWE is working with Facebook to build a solar park in the USA.

As announced by RWE Renewables, a collaboration has been agreed with Facebook and the Tennessee Valley Authority (TVA) to implement a 150MW solar power project in Shelby County, Tennessee, USA. After going live, expected at the end of 2023, Facebook wants to use 110 megawatts of solar power to run a data center in Tennessee.

The basis for the realization of the solar project is a long-term power purchase contract with TVA, as explained by RWE. Tennessee Valley Authority is an American company that provides electricity to domestic business customers and utility companies. The solar project is part of TVA’s Green Invest program to expand generation capacity based on renewable energies in Shelby County.

According to more information, RWE will own and operate 100 percent of the shares in the plant. A decision on investing in the solar system will be made once the approval process is complete.

The Facebook post left the red color throughout the day, and it recently added 0.10 percent to 310.24 percent on the Nasdaq. Via XETRA, RWE shares fell 1.03 percent to € 31.79.

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