Meta CEO Mark Zuckerberg has said Hyperion would cover a “significant part of the footprint of Manhattan.”
“Our Richland Parish data center serves as a symbol of the ambition and scale of next-generation AI infrastructure,” said Rachel Peterson, Meta vice president for data centers, in a statement. “We are building foundations for the future of AI innovation right here in the United States. We’ve been working closely with Entergy since early on-site planning to ensure our power needs are met and, importantly, so that Entergy’s other consumers aren’t paying our costs.”
The Louisiana Public Service Commission will still need to approve the projects. The previous three power plants received regulatory authorization last year.
Entergy’s stock jumped 7% on March 27, lifting its market cap to a new record high of about $50 billion. The stock has risen almost 125% in two years.
Entergy is emphasizing that Meta is paying for the projects, rather than shifting the costs to other ratepayers. Entergy argues that the deals will save Louisiana taxpayers billions of dollars over several years.
The 10 power plants are estimated to cost nearly $11 billion. Critics contend ratepayers could be stuck with the bill after 15 years, which is the length of the contractual terms, if Meta no longer requires so much power after that span.
“This agreement reflects what’s possible when strong partners align around long-term growth and value,” said Phillip May, president and CEO of Entergy Louisiana, in a statement. “Working with our customers, regulators, and state leaders, we are making targeted investments that strengthen reliability, support economic development, and deliver meaningful benefits to customers—all while keeping energy rates affordable.”
