Utility Entergy says revised Meta data-center deal to deliver higher customer savings

March 27 (Reuters) - Utility ‌Entergy said ​Meta ​Platforms will pay its full cost of service for the planned ‌hyperscale data center in northeast Louisiana under ⁠a revised agreement.

Shares of the utility were up ‌4.8% in early trading ‌on Friday.

The agreement is expected to deliver nearly $2 billion in customer savings over 20 ​years, the company said, in addition to the $650 million announced last year.

Meta ⁠had disclosed plans to invest about $10  billion in a hyperscale data ​center in Richland Parish, northeast Louisiana, a project the Facebook parent unveiled in ​late 2024.

Big technology companies ‌are increasingly partnering with utilities to power the rapid expansion of ⁠data centers to cater to the surging demand for artificial intelligence tools and cloud computing.

Entergy ⁠Louisiana, which received the state's regulatory approval last year ​for investments tied to the project, said it plans to carry out a major build-out of generation, ‌transmission and storage infrastructure.

This includes seven new natural gas-fired power plants ‌with capacity of more than 5,200 megawatts, ⁠new high-voltage transmission ‌lines, battery storage ​and nuclear power upgrades.

(Reporting by Sumit Saha in Bengaluru; Editing by Sriraj ‌Kalluvila)

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