Meta is considering entering the power trading business to accelerate the construction of new power plants needed to provide energy to data centers.
Bloomberg reported that both Meta and Microsoft are seeking federal approval for the power deal (Apple has already received this approval). Mehta says this reduces risk by allowing them to make long-term commitments to buy power from new power plants while also allowing them to resell some of that power on the wholesale power market.
Uruvi Parekh, Meta’s global head, told Bloomberg that power plant developers “want to know that electricity consumers are willing to put their lives on the line.”
“If Meta doesn’t become more vocal about the need to expand the amount of power in the system, it’s not going to happen as quickly as we would like,” Parekh said.
As an example of the unprecedented energy demands underlying the tech company’s ambitious AI data center plans, Bloomberg notes that at least three new gas power plants would need to be built to power Meta’s Louisiana data center campus.
