Canadian energy infrastructure company Enbridge (ENB) is investing $900 million in a 600-megawatt solar project in Texas that’s being led by technology giant Meta Platforms (META).
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Calgary-based Enbridge says it is making the investment as demand for clean energy from technology companies drives demand for renewable sources of power. Meta has signed a long-term contract to purchase 100% of the project’s renewable energy to help power its data center operations.
Meta is one of many mega-cap technology firms that is investing heavily in renewable energy to power their data centers and artificial intelligence (AI) models and applications. The “Clear Fork” solar energy project, which is located near San Antonio, Texas, is expected to become operational by 2027.
Rising Demand
In a news release announcing the investment, Enbridge said: “Clear Fork demonstrates the growing demand for renewable power across North America from blue-chip companies who are involved in technology and data center operations.”
Construction on Clear Fork is underway and Enbridge expects the project to be accretive to its cash flow and earnings once it comes online in 2027. ENB stock has gained 9% this year, while META stock has risen 21% so far in 2025.
Is META Stock a Buy?
The stock of Meta Platforms has a consensus Strong Buy rating among 45 Wall Street analysts. That rating is based on 41 Buy and four Hold recommendations issued in the past three months. The average META price target of $746.07 implies 5.53% upside from current levels.
