Meta orders 10 gas power plants for Hyperion AI campus in Louisiana-over triple the initial plans

Key Points:

• Meta and Entergy have agreed to build and finance seven new power plants in Louisiana, adding to three previously approved plants, totaling 10 plants with 7.5 gigawatts of capacity, which would increase Louisiana’s grid capacity by over 30%.
• Meta is also funding up to 2.5 gigawatts of renewable energy capacity, including battery storage, to support its large AI data center campus, Hyperion, in Richland Parish, Louisiana.
• The Hyperion campus, backed by a $27 billion joint venture with Blue Owl Capital, is planned as a long-term multiphase AI hub, with Meta CEO Mark Zuckerberg comparing its footprint to a significant part of Manhattan.
• Entergy emphasizes that Meta is covering the costs of the power projects, which are estimated at nearly $11 billion, aiming to avoid burdening other ratepayers and potentially saving Louisiana taxpayers billions over time.
• The Louisiana Public Service Commission must approve the new projects, while critics warn that after the 15-year contract term, ratepayers could face costs if Meta’s power needs decline; Entergy’s stock surged 7% following the announcement.