RWE’s Waterloo Solar project in Bastrop County will provide 200 megawatts of clean energy for Meta’s operations in Central Texas.
Meta Platforms (Facebook’s parent company) is doubling down on Central Texas with a new solar-powered data center initiative. Meta has partnered with renewable energy company RWE on the 200-megawatt Waterloo Solar project in Bastrop County, which will supply 100% clean energy for Meta’s expanding data center operations This isn’t just about clean power – it’s also bringing an estimated $26 million in local economic activity and about 300 new jobs during construction. The move signals a deeper corporate shift toward Central Texas as big tech companies invest heavily in the region, blending high-tech growth with sustainable energy. In this article, we’ll break down what Meta’s latest investment means for Austin’s economy, its real estate market, and the broader trend of tech-fueled growth in the Lone Star State.
In short, this development brings together three powerful forces:
- Big Tech Expansion: Austin continues to attract industry giants, with 100+ tech companies relocating or expanding here in recent years Meta’s move is one more example of a tech titan betting on Austin’s future.
- Clean Energy Leadership: Texas has emerged as a renewable energy leader, enabling sustainable power deals like Meta’s 200 MW solar project. This partnership aligns with Meta’s goal to run its operations on 100% renewable energy.
- Long-Term Growth: Meta’s investment brings immediate jobs and economic benefits, injecting $26 million into the local economy during construction and boosting local revenue for decades to come. It’s a recipe for long-term growth in Central Texas.
Meta’s Clean Energy Bet in Central Texas
Meta’s latest project is a bold clean energy bet that underscores how tech and sustainability are converging in Texas. Under the new power purchase agreement, Meta will buy 100% of the output from RWE’s Waterloo Solar farm in Bastrop County. Construction on this large solar facility is set to begin in late 2025, and once it’s up and running, it will directly support Meta’s regional data centers and offices with green power. This move is in line with Meta’s broader commitment to renewable energy – the company has pledged to match 100% of its operations with clean energy to reach its sustainability goals. By securing a dedicated solar supply, Meta ensures its growing Texas footprint is powered by the sun, not just the grid.
Investing in solar energy in Texas makes strategic sense. The Lone Star State, traditionally known for oil and gas, is now dominating U.S. renewable energy growth with enormous wind and solar capacity. In fact, Texas leads the nation with over 22,000 MW of solar farms and 42,000 MW of wind power installed as of 2024. That clean energy leadership provides the perfect backdrop for Meta’s initiative – it’s easier than ever for a company in Texas to go 100% green. By partnering with RWE on Waterloo Solar, Meta is not only securing electricity for its data center, but also reinforcing Texas’s reputation as a cutting-edge clean energy hub. Big tech embracing big solar in Central Texas is a win-win: Meta meets its sustainability targets, and Texas solidifies its role at the forefront of the renewable revolution.
Economic Impact: Jobs and Local Growth
This project isn’t just about energy; it’s about economic growth for the Austin area. During the construction of the Waterloo Solar farm, approximately 300 full-time jobs are expected to be created at peak. These jobs will span everything from engineering and construction to support services – a significant boost for Bastrop County’s job market. Along with jobs, there’s a direct financial injection: RWE’s investment in construction (including wages, local services, and materials) is estimated to stir up about $26 million in new local economic activity. That means more business for local contractors, retailers, and service providers in Central Texas while the project is being built.
And the benefits don’t stop once the solar panels are in place. After the project becomes operational, it will continue to contribute to the community in the long run – roughly $2 million per year will be added to the local economy, and the county is projected to gain about $49 million in tax revenue over the 40-year life of the solar farm. This kind of steady economic impact is substantial; it helps fund schools, infrastructure, and public services, all while keeping the region economically vibrant. It’s a prime example of how a single corporate investment can have long-term positive ripple effects for the community.
Meta’s growing presence amplifies these benefits. The company isn’t new to Central Texas – it already employs around 1,500 workers in the Austin area and occupies nearly 600,000 square feet of office space in downtown Austin. (In fact, Meta made headlines by leasing almost all the office space in what is now Austin’s tallest tower.) On top of that, Meta is in the middle of constructing a state-of-the-art hyperscale data center campus in Temple, TX, an investment of at least $800 million. These existing commitments mean Meta is deeply woven into the local economy – from providing high-paying tech jobs to renting commercial real estate and now investing in renewable energy infrastructure. The new solar project with RWE further cements Meta’s role as a long-term economic partner for Central Texas. For residents and local businesses, this translates to more opportunities and confidence that companies like Meta are here to stay and grow.
Central Texas: A Magnet for Big Tech
Meta’s move is part of a broader trend of tech giants flocking to Central Texas. In recent years, Austin has consistently ranked as one of the hottest tech and business hubs in the country. In fact, over the last few years more than 100 tech companies have relocated to or significantly expanded in the Austin area, collectively creating thousands of jobs. From household names to buzzing startups, firms have been drawn by Austin’s pro-business environment, rich talent pool, and vibrant lifestyle. Major players like Tesla, Oracle, Amazon, Apple, Snap, and TikTok have all announced new campuses, headquarters moves, or expansions in the region. Each of these moves reinforces Austin’s reputation as the “Silicon Hills” and brings even more energy (and people) to the local economy.
Consider Tesla’s expansion, for example – the electric car maker’s Gigafactory just east of Austin added around 10,000 jobs when it revved up operations. Samsung is another big name betting on Central Texas, with a $17 billion semiconductor plant under development in nearby Taylor, TX (which will employ thousands). Apple is building a massive new campus in North Austin, a $1 billion project that will eventually house tens of thousands of employees. And as mentioned, Meta itself has planted deep roots: beyond the new solar-powered data center in the works, Meta’s downtown Austin offices (spanning those 33 floors of the new skyscraper) signal a long-term commitment to the city.
All of these investments by tech titans amount to a deeper corporate shift toward Central Texas. The region has transformed into a magnet for innovation and corporate growth. For Austin locals, this surge of “big tech” means more high-paying jobs and a diversification of the economy beyond its government and university town roots. It also puts Austin on the world stage as a center of technology and forward-thinking development. Meta’s latest project neatly fits into this narrative: it combines the tech industry’s expansion with the kind of sustainable infrastructure that modern companies and communities value. In doing so, it strengthens Central Texas’s appeal even further – as a place where cutting-edge companies can grow and achieve ambitious sustainability goals at the same time.
What It Means for Austin Real Estate
Whenever thousands of jobs are created and billions of dollars flow into a region, you can bet the real estate market feels the effects. Austin’s booming tech scene has already led to a red-hot housing market in recent years, and moves like Meta’s only add more fuel to the fire (in a good way). A healthy job market typically increases demand for housing – and that’s exactly what Austin has experienced. As more people relocate to Austin for newly created jobs, the need for homes expands in tandem. We’ve seen a surge in new housing developments in and around Austin, from urban apartments to suburban single-family communities, to accommodate the influx of tech employees and their families. At the same time, existing home values have generally climbed, reflecting the high demand and limited supply in a city that everyone seems to be moving to.
It’s not just residential real estate; commercial real estate is booming as well. Big companies setting up shop need office space, industrial facilities, and more. When Meta leased all those floors in the downtown high-rise, it signaled strong confidence in Austin’s office market. Likewise, other expanding firms are occupying offices across the city, and some are building their own campuses (like Apple’s campus or Tesla’s factory complex). Even industrial real estate – think warehouses and data centers – is growing due to projects like Meta’s Temple data center or Tesla’s manufacturing needs. This broad-based real estate growth means opportunities for developers, investors, and homeowners alike. New construction is popping up not only in Austin’s urban core but also in suburbs and outlying areas (e.g., Bastrop County, where the solar farm is going, or Williamson County, home to new tech facilities) to support the regional expansion.
Importantly, Austin’s real estate boom is seen as more sustainable than a short-term bubble. While the market has had its ebbs and flows, the influx of long-term corporate investments and steady job creation provides a solid foundation for continued growth. Austin’s job market strength directly translates to real estate strength – as noted in one local report, the city’s low unemployment and high wage growth have kept housing demand resilient. Even if the national economy cools, Austin’s momentum from tech and innovation could help insulate its real estate market from severe downturns. For anyone looking to buy, sell, or invest in Austin, the key takeaway is that these tech-driven developments (like Meta’s solar-powered expansion) are shaping a robust future. Understanding where the growth is happening – and what areas might blossom next (such as towns like Bastrop, Taylor, or Temple that are landing big projects) – can help you make informed real estate decisions.
Keeping You In The Know
Meta’s latest investment is more than just a news bite – it’s a glimpse into Austin’s future at the intersection of technology, sustainability, and economic growth. Developments like these highlight why Central Texas continues to shine as a place of opportunity. Big tech. Clean energy. Long-term growth. It all converges here, and the ripple effects will be felt across the community for years to come, from our job market to our housing market.
At The Morshed Group, we stay on top of transformative trends like this so you can stay informed. Navigating Austin’s rapidly evolving real estate landscape is easier when you have up-to-date insights and a knowledgeable partner by your side. Whether it’s understanding how a new data center might affect housing in a nearby suburb or knowing which emerging tech corridor could be the next hot spot, we’ve got you covered. Our mission is to keep you in the know and empower you to make powerful real estate decisions in line with Austin’s growth.
As Austin continues its remarkable rise, having a finger on the pulse of these changes is key. Meta’s big move is just one of many shaping our city’s story. We’ll be here to guide you through all of them – so you can confidently ride the wave of Austin’s success, today and into the future.
Sources: Meta–RWE press release; Data Center Dynamics (Meta 200MW solar PPA); Here Austin local news; Reuters (Texas renewable energy leadership).