Investing.com -- Meta Platforms announced Monday that it has signed a deal to purchase up to 1 gigawatt of space solar energy from Overview Energy, a startup developing technology to collect sunlight in satellites orbiting Earth and convert it into electricity for the grid. One gigawatt is roughly equivalent to the power generated by a nuclear reactor.

Overview Energy's concept for a space-based power plant that transmits energy back to Earth remains under development. The startup is continuing to develop and test its technology, with plans for an initial orbital demonstration in 2028.

Meta did not disclose the financial terms of the agreement, which would give the company preferential access to Overview Energy's future capacity. The companies said they expect commercial power delivery to begin in 2030.

The deal is part of Meta's broader spending on artificial intelligence infrastructure. The company is allocating hundreds of billions of dollars to secure the energy, infrastructure and computing capacity needed to support its AI operations. Nat Sahlstrom, Meta's vice president of energy and sustainability, said in a statement that the company hopes Overview Energy will provide access to clean, uninterrupted energy.