Meta Platforms (NASDAQ:META) announced Monday that it has entered into an agreement to purchase up to 1 gigawatt of space-based solar energy from Overview Energy, a company developing satellite technology to harvest sunlight in orbit and transmit it back to Earth as electricity.
The planned capacity is roughly equivalent to the output of a nuclear reactor. Overview Energy’s system, which envisions space-based solar arrays sending power to the grid, is still in development, with an initial orbital demonstration targeted for 2028.
Long-Term Power Supply Planned for 2030
While financial details were not disclosed, the agreement grants Meta preferential access to Overview Energy’s future energy capacity. The companies expect commercial delivery of electricity to begin around 2030.
Supporting Massive AI Infrastructure Expansion
The deal aligns with Meta’s broader push to scale its artificial intelligence infrastructure, which includes significant investments in energy supply, computing resources, and data center capacity. The company is committing hundreds of billions of dollars to support its growing AI operations.
Nat Sahlstrom, Meta’s vice president of energy and sustainability, said in a statement that the company is aiming to secure access to clean and reliable energy through initiatives like its partnership with Overview Energy.
More about Meta Platforms
Meta Platforms is a global technology company focused on social media, digital communication, and emerging technologies such as artificial intelligence and virtual reality, with increasing investment in infrastructure to support next-generation computing demands.