Entergy Corp (ETR) Secures Approval to Support Meta's Massive Data Center

Entergy Corporation (NYSE:ETR) is one of the best stocks to invest in according to billionaire George Soros. On August 20, the company confirmed it has received regulatory approval to proceed with the construction of three combined-cycle combustion turbine generation facilities in Louisiana.

The construction is tied to Meta Platforms’ new global data center in Richland Parish and is expected to strengthen the state’s electric grid. The three will have a total capacity of 2.26 GW and are also being built to improve system reliability.

The approval by the Louisiana Public Service Commission (LPSC) also grants Entergy the Green Light to acquire up to 1.5 GW of solar resources.

“These investments will help power one of the most advanced data centres in the world and will also reinforce our grid, create economic opportunity and support a more sustainable energy future across Louisiana,” said CEO Phillip May.

Entergy Corporation (NYSE:ETR) is an integrated energy company that produces, transmits, and distributes electricity for about 3 million customers in Arkansas, Louisiana, Mississippi, and Texas through its operating companies. The company operates power plants with a capacity of approximately 24,000 megawatts, utilizing a mix of natural gas, nuclear, and renewable sources.

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Disclosure: None. This article is originally published at Insider Monkey.