Facebook has just signed a new deal in India. This deal will have the company buy renewable energy from local firm’s wind project, marking the social media giant’s first such deal in the South Asian region.
According to a Reuters report, the company is striking a deal with CleanMax. This deal is related to the latter’s 32 megawatt wind power project, which is located in Karnataka, India. This location is also a part of a larger portfolio of wind and solar projects from the social media giant and the Mumbai based CleanMax. Both firms are working together on supplying renewable power power into India’s electrical grid, as per a joint statement from the companies.
CleanMax will own and operate the projects, meanwhile, Facebook will buy the power off the grid off the grid using using environmental attribute certificates, or carbon credits. Urvi Parekh, Facebook’s head of renewable energy, stated that the company doesn’t own power plants, but has signed long term electricity purchasing agreements with renewable power based firms. She added that the deal would “enables the project to seek out the financing that it would need.”
Similarly, Facebook has also announced a similar partnership deals with energy providers like Sunseap Group, Terrenus Energy and Sembcorp Industries in Singapore for projects that can produce 160 MW of solar power. Notably, Mark Zuckerberg, the company’s CEO, had also announced that Facebook’s global operations are now wholly supported by renewable energy and that it has reached net zero emissions.
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