BP begins building Ohio solar farm, signs deal to sell power to Meta
Oli Scarff/Getty Images News

BP (NYSE:BP) said Tuesday it has started construction of its 134 MW Arche solar project in Ohio that has secured a power purchase agreement with Meta Platforms (NASDAQ:META), part of the oil company's push to diversify away from fossil fuels and cut carbon emissions.
Under the deal, BP (BP) will sell Meta (META) all the power from the solar project, which is expected to help Meta decarbonize its data centers; deal terms were not disclosed.
Joint venture partner Lightsource BP developed the project on behalf of BP (BP) and is managing construction; the project, which will use equipment from U.S.-based manufacturers including First Solar (FSLR) and Nextracker, is expected to become operational next year.
BP (BP) is "an igniting rocket about to blast off," Fade The Market writes in an analysis published recently on Seeking Alpha.