Facebook Signs First Deal To Buy Renewable Energy In India

The 32 megawatt wind power project, located in Karnataka, is part of a larger portfolio of wind and solar projects of Facebook and CleanMax.

Facebook has signed a deal to buy renewable energy in India from a local firm's wind power project, the social media giant's first such deal in the country, the companies said on Thursday. The 32 megawatt wind power project, located in Karnataka, is part of a larger portfolio of wind and solar projects that Facebook and Mumbai-based CleanMax are working together on for supplying renewable power into India's electrical grid, they said in a joint statement. CleanMax will own and operate the projects, while Facebook will buy the power off the grid using environmental attribute certificates, or carbon credits, the companies said. Facebook's head of renewable energy, Urvi Parekh, told Reuters the company typically doesn't own the power plants but instead signs "long-term" electricity purchasing agreements with the renewable power company.