Meta signs deals with three nuclear companies for 6-plus GW of power

Meta has announced three agreements to supply nuclear power to its data centres, sourcing energy from a startup, a smaller energy provider, and a large utility that already operates atomic reactors in the United States.

The deals include agreements with Oklo and TerraPower—both developers of small modular reactors (SMRs)—to build multiple new reactors, as well as a power purchase agreement with Vistra, which will supply electricity from its existing nuclear facilities.

Nuclear energy has become an increasingly attractive option for major technology companies as their AI-driven data centre operations expand, requiring constant, round-the-clock electricity. While existing atomic plants offer some of the cheapest baseload power available, their limited availability has pushed companies like Meta toward SMR developers. Startups such as Oklo and TerraPower are betting that mass-producing smaller reactors can reduce costs over time—a theory that remains largely unproven. Meta’s agreements could help test that model at scale.

The deals stem from a request for proposals issued by Meta in December 2024, seeking partners capable of delivering between 1 and 4 gigawatts of new generating capacity by the early 2030s. Much of the power will be routed through the PJM Interconnection, which serves 13 Midwestern and Mid-Atlantic states and has been experiencing increasing strain from rapid data centre expansion.

The 20-year agreement with Vistra is expected to have the most immediate impact. Meta will purchase 2.1 gigawatts of electricity from Vistra’s Perry and Davis-Besse nuclear plants in Ohio. As part of the agreement, Vistra will also expand capacity at those facilities and at its Beaver Valley plant in Pennsylvania. These upgrades are expected to add a combined 433 megawatts and come online in the early 2030s.

Meta has also committed to buying 1.2 gigawatts of power from Oklo. Under the agreement, Oklo aims to begin delivering electricity to the grid as early as 2030. The company went public via a SPAC in 2023. It previously secured a significant deal with data centre operator Switch. However, it has faced challenges obtaining regulatory approval for its reactor design from the Nuclear Regulatory Commission.

If Oklo meets its timeline, the reactors would be built in Pike County, Ohio. Each of the company’s Aurora Powerhouse reactors generates 75 megawatts, meaning more than a dozen units would be required to meet Meta’s demand.

TerraPower, co-founded by Bill Gates, plans to begin supplying electricity to Meta as early as 2032. Its reactor design uses molten sodium to transfer heat from the reactor to the generator, allowing excess thermal energy to be stored in insulated tanks during low-demand periods. Each reactor can generate 345 megawatts, while its energy storage system can deliver an additional 100 to 500 megawatts for more than five hours.

The company has progressed more smoothly through the NRC approval process and is working with GE Hitachi to construct its first plant in Wyoming. The first two TerraPower reactors for Meta would provide 690 megawatts, and Meta has the option to purchase up to six additional units, bringing the total to 2.8 gigawatts of nuclear capacity and 1.2 gigawatts of storage.

Meta did not disclose the financial terms of the agreements. Power purchased from Vistra’s existing nuclear plants is expected to be the least expensive, as electricity from operating reactors is among the cheapest sources on the grid.

The economics of SMRs remain uncertain. TerraPower has estimated long-term costs of $50 to $60 per megawatt-hour, while Oklo has projected costs between $80 and $130 per megawatt-hour. Those estimates apply to later deployments, as initial reactors are expected to be more expensive.