Fengate Asset Management (Fengate) announced the acquisition from Triple Oak Power (Triple Oak) of the ready-to-build 160-MW Prairie Switch Wind project located outside of Houston. The Prairie Switch Wind project will utilize 48 of GE Renewable Energy’s 3.4-MW wind turbines and is expected to be fully operational by the end of 2023.
As part of this transaction, Fengate and Meta Platforms Inc. (Meta) signed a long-term power purchase agreement (PPA) for 100% of the project’s production. Under this PPA, the project will provide new wind energy to support Meta’s operations. Located near the city of El Campo in Wharton County, Texas, Prairie Switch Wind will inject millions of dollars of tax and lease payments into the county while synergistically allowing current ranching and farming operations to continue without material interruption or displacement.
“Meta is committed to accelerating the renewable energy transition and, since 2020, we have supported our global operations with 100% renewable energy,” said Urvi Parekh, director of Renewable Energy at Meta. “We appreciate Fengate’s partnership in helping us bring this new wind energy in support of our operations in the area.”
