Meta signs power deal with Constellation

Yesterday was a busy day for Meta, as they also announced a 1.1 gigawatt power deal with Constellation Energy. The tech-giant has committed to buying all the power for 20 years from one nuclear reactor. In December, Meta announced that it was seeking to sign power supply agreements for between 1 and 4 gigawatts. This deal is at the lower end of that scale.

At the moment, tech giants are spending hundreds of billions building data centres which are electric power-sucking monsters. Electrical grids around the world might reach a point of limited supply.

Former Google CEO, Eric Schmidt, forecasts 10 gigawatt data centres being built in the near future. That means consuming 10 times the power of the deal that Meta just signed. The energy space is going to be very interesting over the next decade.