<div id="readability-page-1"><p><strong>Meta Platforms</strong> <span>(META<span> 1.25%</span>)</span> has grand ambitions to become a leader in artificial intelligence (AI). The tech titan is pouring billions of dollars into computing power and spending millions to recruit top AI talent.</p> <p>However, Meta can't achieve its bold AI vision without power. That recently led it to ink a long-term contract for 100% of the electricity produced by Clear Fork, a utility-scale solar energy project by <strong>Enbridge</strong> <span>(ENB<span> 0.65%</span>)</span>. That project will help power growth for both companies. </p> <div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjYxMjQvdHdvLXBlb3BsZS13YWxraW5nLW5lYXItc29sYXItZW5lcmd5LXBhbmVscy5qcGcmdz03MDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="700" height="413" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjYxMjQvdHdvLXBlb3BsZS13YWxraW5nLW5lYXItc29sYXItZW5lcmd5LXBhbmVscy5qcGcmdz03MDA"/></p><p>Image source: Getty Images.</p> </div> <h2>A massive and specific power need</h2> <p>Meta Platforms has an aggressive AI strategy. CEO Mark Zuckerberg recently stated that the company plans to invest hundreds of billions of dollars in the coming years in massive data centers for superintelligence. It's building several multigigawatt data centers, some of which will eventually scale up to 5 gigawatts. For perspective, 1 gigawatt of electricity is enough energy to power about 750,000 homes for a year. </p> <p>That means Meta Platforms will require a significant amount of electricity in the coming years to support its AI ambitions. However, Meta doesn't want just any power. The company has committed to achieving net-zero emissions across its operations by 2030. Those factors are leading it to work with energy producers like Enbridge to secure more clean energy to power its operations. </p>  <h2>Adding more power to its growth engine</h2> <p>The vast power needs of companies like Meta Platforms are benefiting energy companies like Enbridge, enabling them to expand their operations. The Canadian energy infrastructure giant recently signed a contract with Meta to sell 100% of the power output of Clear Fork, a utility-scale solar energy facility it's building near San Antonio. The project will have the capacity to produce 600 megawatts (MW) of power upon entering commercial service in mid-2027. Enbridge expects to invest $900 million in the project.</p> <p>The agreement will benefit both companies. It helps support Meta's goal of powering 100% of its growing operations with clean energy. Meanwhile, the $900 million project will help boost Enbridge's cash flow and earnings per share starting in 2027. </p>  <p>That project further enhances Enbridge's long-term growth profile. The energy infrastructure company ended the first quarter with $28 billion Canadian ($20.6 billion) worth of commercially secured growth capital projects underway. It expects those projects to enter service through 2029. </p> <p>Among the company's many projects is Sequoia Solar, an 815-MW solar project on track to enter commercial service in early 2026. Enbridge is investing $1.1 billion into the project to support the power needs of <strong>AT&amp;T</strong> and <strong>Toyota</strong>. Sequoia is part of Enbridge's growing renewable power platform. The company recently completed Orange Grove, a 130 MW solar project backed by AT&amp;T and Fox Squirrel, a multi-phase solar project to support <strong>Amazon</strong>'s growing energy needs. Meanwhile, it's working on developing several other renewable energy projects to support the power needs of data centers. It's currently pursuing about CA$7 billion ($5.1 billion) of renewable projects, part of its CA$50 billion ($36.7 billion) energy infrastructure development pipeline. </p> <p>Enbridge's expanding project backlog supports a clear growth outlook. The company forecasts annual cash flow per share growth of 3% through next year and approximately 5% thereafter. This underpins its expectations of growing its 6%-yielding dividend at a similar annual rate. Enbridge's payout has risen for 30 straight years. </p> <h2>A win-win partnership</h2> <p>By securing all power from Enbridge's Clear Fork solar project, Meta will advance its AI ambitions while staying on track with its commitment to clean energy. Meanwhile, Enbridge solidifies a long-term customer to support the continued growth of its renewable energy platform and 6%-yielding dividend. This partnership enhances the growth profiles of Meta and Enbridge, which are key beneficiaries of the AI megatrend.</p>                                                                            </div>

Meta Platforms Is Helping Power This 6%-Yielding Dividend Stock's Continued Growth