Enbridge Inc. has finalized its investment in Clear Fork, a 600 MW solar project in Texas, with a long-term contract from Meta Platforms, Inc. for 100% of its renewable output.

Information on the Target

Enbridge Inc. has announced a significant investment decision regarding its latest project, Clear Fork, which is set to be a 600 MW solar power facility in Texas. Located near San Antonio, the utility-scale solar project represents a major commitment to renewable energy. Construction of Clear Fork is presently underway, with expectations for it to commence operations by the summer of 2027. This project will provide a sustainable energy source, enabling a transition towards greener power generation.

Meta Platforms, Inc. has committed to a long-term agreement to purchase 100% of the renewable energy generated by Clear Fork. Enbridge estimates the total cost of the project will reach approximately USD 900 million, with anticipated positive contributions to cash flow and earnings per share starting in 2027.

Industry Overview in Texas

The state of Texas is experiencing a rapid transformation in its energy landscape, particularly in the renewable sector. With extensive land available for large-scale solar installations and favorable climatic conditions, Texas is positioning