 I'm the head of energy strategy at Facebook. Also Stanford alum, so super excited to be doing this. I'm coming to you from my seven-year-old's bedroom, which is also our home office. Hopefully we won't have any visitors today, but I think everybody has been doing this long enough that they know what to expect. And I was saying earlier, if I need tech support, she's probably the best at using Zoom in our household. So maybe we'll see her. The first thing I wanted to say is that, in spite of the fact that I signed up to do this in a lecture format, I am not actually the biggest fan of lecturing, although I'm prepared to speak uninterrupted for the duration. That said, use that Q&A box. I will do my best to keep an eye on it and happy to have this be an interactive presentation or at least as interactive as we can be, not being together. And on that note, I hope that everybody out there is staying healthy and safe with everything going on. And I'm certainly looking forward to a chance at some point in the future when I can meet a lot of you in person. So that said, let me tell you a little bit about what I'd like to talk about today. When Trin approached me and said, hey, let's talk about corporate procurement. That's something that I do day in, day out. I'm very excited to talk about it. And I thought there were a couple of different things that might be interesting to all of you. The first is I'll just tell you a little bit about the Facebook energy team, kind of where we sit in the company and what we do. And then next we'll zoom out and talk about why do companies care about renewables? Why did they purchase renewables? How long have they been doing it? What does that look like? And we'll talk a little bit about sort of what the current landscape of corporate procurement currently looks like. And then from there, we can move in and talk specifically about Facebook's energy team and our energy program, sort of what our energy story has been, what we're doing, how we do it. And then we'll spend a little bit of time talking about the landscape of what comes next. Many companies are getting close or have met some of the first big goals that they've set. And from that point, we can really think about what comes next and how do we think about it. And then at the very end, because I know there are students on, Trin had asked that maybe I spent a couple of minutes just talking about how I got to the job that I have now. So I'm gonna leave that to the end, but I'll spend a couple of minutes talking through some of that for anybody that might be interested in that sort of thing. So with that, I'm gonna go ahead and move forward into some of the material. So Facebook, small social media company, you might have heard of us, 3. something billion people use one of our products every month. The mission of the company is to give people the power to build community and bring the world closer together. And if you've ever used one of our products, you know that that means everything from texts to photos to video to three-dimensional video to AR to VR to all of this different stuff. And ultimately it takes a lot of computers to run Facebook. And as it turns out, those computers are housed inside of something called a data center and data centers use by and large the most significant amount of energy within Facebook's global portfolio of sites and operations. And so the Facebook energy team sits inside of our data center team. So let me start by telling you a little bit more about some of that. So data center support, Facebook's mission, we have four main apps that we call the Facebook family of apps. That's Facebook Messenger, Instagram, Facebook, the main, the big blue app that many of you are probably familiar with. And WhatsApp. And as you know, as I just said, we've got almost 3 billion people or maybe just over 3 billion people now that use those apps at least once a month, which is just a staggering number of people. And it takes a huge amount of computing power to do that. We have a fleet of data centers that are located all over the world. This is a map of sort of where those locations are. As you can see, we've got a number of them that are still under construction, even the ones that are operating are mostly under construction. We tend to be a little bit more heavily represented by U.S. deployments. Got a few in Western Europe and then that Singapore facility, which is really an amazing facility, a multi-story data center design, which is super cool. And I've been at the company for about six years, which in Facebook years is just like an absolute dinosaur. And I've seen almost all of these sites actually get rolled out. And we just continue to add more and more data center capacity. So a large and growing portfolio of data center sites around the world. Maybe also worth noting, not a lot of companies put this information out there. So there are a bunch of other companies, other tech companies and other types of companies that have data centers. It's usually a pretty sort of semi guarded, closely guarded secret of where those data centers tend to be. Facebook is very out there with this information. Every data center has its own Facebook page. And a lot of this information is available on our website, which I'll share some information about where you can find more information on our renewable energy projects, but also data center information as well. So data centers themselves, what are they? Their warehouse is full of computers, but that's a little bit of an understatement. They're very cool if you're into that sort of nerdy stuff. Like every time I go into a data center, it's like, I'm standing in the future. This is amazing. And I also like to say that they're really attractive buildings and sites. Many data centers that aren't ours are kind of hidden away, tucked behind berms. They're hard to see. Ours are really industry leading design. They've got nice facades, they've got nice landscaping, and they're gigantic. I mean, we are talking millions of square feet of real estate. It's a little bit hard to see, but in the bottom right, there's a rendering of a data center building and sort of off to the side there, you can see it's kind of a square with some white squares on it. That's a substation. And an electrical substation for those of you that may not be in the deepest weeds of the energy world is how we interconnect our data centers to the grid, how we plug them in. And they're big. These things use a lot of energy. And so we're really concerned with making sure that we're being responsible in the way that we use energy. So these are just a couple of different pictures of sort of data centers and the life cycle of data centers. And everything from the facade through to construction. Another thing that I just wanted to hit on you, we've got a whole bunch of different slides about the data center portfolio and what we do. One of the ones that always resonates to me because I've been very involved with many of our site selection efforts and figuring out where to put data centers is that we think about citing a data center in a community as entering into a long-term relationship with that community. And we're deeply committed to playing these very positive roles in our data center communities. We work to support STEM education, which I know probably with this audience is something that people care passionately about and certainly those of us in the technical parts of Facebook care about that as well. We offer grants to local communities around education and other community benefits and all of our data center staff do a lot of volunteering locally. So it's something that I always just kind of highlight because you think about a data center as a warehouse full of computers but really getting our employees out there into the community and being a good partner and long-term with those communities is something that's really important to us. So that gives you a little bit of a sense for kind of what the data centers do. And so the energy team with Facebook sits inside of the data center team and the reason for that is that we've got a couple of high-level objectives. So the first is we have to plug these things in and make sure the lights get turned on. And that takes a mix of things but it's an important part of our jobs. Gotta make sure those lights stay on so reliability is really important. And then we need to make sure that we're serving them from an energy perspective cost-effectively and that it meets all of our sustainability goals and objectives. So serving them as cleanly as possible. So that's really sort of the key pillars of the team's focus and the energy team has broken down into three main groups of people. The first is the team that I lead which is sort of a commercial regulatory market design kind of group. We do all of our utility relationships around the country. We're involved in regulatory proceedings related to our rates and then making sure that markets are functioning the way that we need them to function to serve renewable energy to our facilities and the cost-effectively. We've got another team that does program management and the program management team kind of serves as the bridge between teams at local utilities and internal Facebook teams that share similar functions that are responsible for working together to make sure that that will plug the thing in and turn the lights on work. So maybe a design team working with a design team or electrical engineers working with their electrical engineers turns out it's a very complex process to energize a significant load like a data center. And so we have a whole team that works just on the program management there and it's a really vital function. And then we've got a team that does just renewable procurements. So they go out and they look to contract with renewable energy projects around the country. And we'll talk a little bit more about how we do that later. All of that said, all of these folks everybody on the energy team there's 20 something of us now touch renewable energy projects in some way. And for a lot of people on the team it's one of the main reasons why they came to Facebook was to work on projects in that way. And I think a lot of the folks on the team here have a diversity of backgrounds in the energy market but a lot of interesting depth of experience which is really necessary given you saw that map earlier the geographic spread of Facebook data centers it becomes important to have people with a diversity of experience. So that's a little bit more just on the team and kind of where we sit in the company. So look, big question. Why do companies do this? Why do they care? And I think it's actually evolved a bit over time probably. If you look back in history maybe 10 years, a little bit more than 10 years ago that was kind of when you saw the earliest inklings of companies beginning to focus on renewable energy renewable energy projects. Walmart was one of the very first I think all the way back in like 2005 Facebook was an early company as well. And sometimes it was driven by pressure from the environmental community Greenpeace has been very effective in getting people to care about this. Sometimes it was really part of the corporate DNA whether it was like a Patagonia or something like that where there was a strong brand value. And it's sometimes a founder a charismatic founder would care about it but it began largely as an environmental concern. And I think over time what's happened is that you had these sort of niche voluntary commitments becoming something that is definitely not niche anymore. There is an increasing expectation from our customers and our stakeholders that will set aggressive renewable energy targets. It's almost become as we'd like to say table stakes like it's just the thing that you have to do. And also interestingly what started really is something driven by corporations and we're certainly talking mostly about companies today has also been taken up by universities like Stanford and cities and certainly states as well though you get into sort of bigger policy drivers there and a variety of other large non-residential buyers who are trying to do this in increasingly large numbers and it's been really interesting to watch the evolution of procurement of renewable energy through that time. And I think one of the things that has been part of that evolution is that what really began as an environmental issue is not an environmental issue by itself anymore. So well, the environment still certainly matters. I think what a lot of buyers are finding increasingly in many parts of the country is that renewable energy turns out to be the most cost effective option for serving facilities in those locations. And when we start to think about that it becomes very interesting to think about the equation and sort of the nexus for adding renewables onto the grid and why companies might be interested in adding renewables onto the grid. And as we add more and more of them we start to have to grapple with other more interesting issues as well around what happens if you get a lot of renewable energy onto the grid, how do you start balancing it if the sun doesn't shine all the time the wind doesn't blow all the time. And it is an interesting problem for us to begin to work on. So companies have been doing this there's been an evolution of what companies have done but from now that we know why or a little bit of the why we can talk about the what and what companies have been doing. The next couple of slides I have stolen, borrowed they gave me permission, don't worry from a wonderful organization that I'm very, very proud to sit on the board of called the Renewable Energy Buyers Alliance. Reba is just a fantastic group that's been around in some form or another gosh for five or six years now maybe a little bit longer than that. And it started off this sort of four independent loosely joined activities of four independent NGOs and about two years ago those NGOs essentially gave up their programs to stand up a new trade organization focused on bringing more corporate buyers into the fold of renewable energy buyers. And it's just it's a great group. Every year they do a couple of really wonderful meetings obviously given everything going on in the world this year they're doing a virtual meeting and at the beginning of many of those virtual meetings they do what they call a state of the market. So like what are companies doing in procurement of renewable energy? So I stole a couple of slides from them about that because I think it's before we zoom into what Facebook specifically is doing I think it's really interesting to see sort of where corporate procurement has gone through time. So I picked a couple of the slides that I find most interesting. Certainly if you're interested in this stuff go check out the Reba website I think it's REbuyers.org you can find a bunch more materials you can find webinars and all sorts of really interesting stuff more generally. So the first one is let's just talk about deals like this is one of the big things how many deals are people doing. The blow away statistic on this slide from my perspective is that 26 gigawatts over 10 years. I mean these are very, very meaningfully large numbers. Corporations have driven 26 gigawatts of renewable energy onto the grid over 10 years. This is not a niche requirement as I'm fond of saying to policymakers this is really something that has the potential to change the way renewable energy is bought and sold in the country and indeed has changed the way renewable energy is bought and sold in the country. 2019 was an absolute banner year at 9.3 gigawatts. It's really incredible. 2020 off to a bit of a slow start although they gave me all kinds of provisos around first of all there's some cyclicality from a month to month basis which I'll show you in a minute about how renewables are contracted. So it wouldn't be at all surprising to see more renewables coming on later in the year. I think also we've got a number, there's a number of projects where the folks at Reba know that those projects have been signed but they're in some sort of regulatory proceeding or something like that and they haven't been disclosed. So all of which is to say 1.76 not the biggest number on the chart but still a long way to go in 2020 in spite of the circumstances that we're all in. I think we will see a number of projects continue to move forward. Slightly different view on that. This is sort of the quarter by quarter view and one of the things that's really interesting so the 26, 15 have been in the last two calendar years and I think that one of the things that this chart shows is that you've got some interesting sort of quarter by quarter variation where you see these interesting jumps as folks get towards the end of the year and I see actually there's a question that just came in around some of these bumps that you see that was on the annual one but basically a lot of this is driven by deadlines associated with tax credits for renewable energy projects. So I'm not gonna get too deep into the weeds on this but in the US there are federal tax incentives for renewable energy projects or something called the production tax credit which is typically used with wind projects and something called the investment tax credit which is typically used with solar projects and those tax credits have expiration deadlines on them and there's been this cycle of the credits expiring and then Congress renewing them and the credits expiring and Congress renewing them and there is some uncertainty around whether or not the credit would be renewed and so what we have tended to see through time is that there's this rush, a fire sale to get projects contracted before the credit expiration and so I think that what you end up seeing is that because of this sort of cyclical nature of the approvals and the expiration to get these bumps of project development and also similarly through the year a lot of this outside of sort of 2019 the reason that you're seeing these like climbs through quarters is that people are trying to get things in before the end of the year for tax credit deadlines. So what about the folks buying them? The piece of this chart that interests me the most is the black line, of course how many buyers do we have doing this? A hundred companies have transacted in the utility scale solar market. I mean, it's a big number and yet at the same time you think about 26 gigawatts and it's only a hundred companies. So there's a part of me because I've been doing this for 15 years or whatever it is that I'm thrilled to see a hundred companies buying renewable energy because it's a number that seems massive compared to where we were back in 2008. On the other hand, a hundred companies isn't that many and it's not that many for 26 gigawatts and one of the things that I personally believe is that if we wanna see the rapid decarbonization of the electricity system we will need thousands of companies transacting and buying renewable energy and we'll talk about this a little bit more towards the end but again, this is more of a personal view just based on experience at Facebook and elsewhere is that I think that that's gonna be very challenging if those companies are trying to transact on that bilaterally. So we'll talk a little bit more about the ways companies purchase renewable energy but most of the ways that companies buy it is from somebody else on sort of a one-to-one basis so you sign a contract for someone you buy it that way there's some complexity involved in it and it's difficult to imagine that it's difficult to imagine that you're gonna get thousands of companies transacting renewable energy and yet I think getting thousands of companies transacting on renewable energy is ultimately where we need to be to see the electricity system decarbonized rapidly. So for those of you that are interested in technology I'm sure we've certainly got some of those out there. The thing that is so interesting to me here is the inversion of the relationship between volume of solar and volume of wind. So if you had asked me six years ago if Facebook would be signing solar contracts in some of the places where we've signed solar contracts, Virginia being an interesting example I would have been like, no way that the resource isn't good enough that it'll be too expensive. And really what we found is that the cost of solar has declined so rapidly that you are starting to see more and more people doing solar projects and indeed at least from a corporate procurement perspective solar surpassed wind in 2019 which I think is really interesting. And so to me this signal to significant change there are also some features of solar projects that are appealing to people from the perspective of stability of generation. And so I think the move to solar is an interesting story. I'll be very curious to see what the 2020 numbers look like to see if we're seeing this same relationship. But if you kind of go back to 2014 where almost no solar was contracted and a meaningful number of wind was then you look at where we are it's really a significant change. I've seen a bunch of questions come in which is fantastic. There's a couple that I'll try to hit on. I see someone talking about some of the barriers for small companies and what does it take to get small companies into the mix? It's a super question. We're gonna talk a little bit more about sort of the way renewable energy is bought and sold. But the short story is that it is difficult for small companies to deal with the complexity of transacting bilaterally. So the contracts that we use to buy renewable energy these days, they're complicated. We've got an energy team with 20 something people on it that do this, a lot of smaller companies it's maybe half of someone's time. If they're lucky, maybe they're not an energy person. Maybe they manage a whole bunch of different facilities. So complexity is really a big part of it. And one of the things that Reba's super focused on is trying to figure out how to bring those small and medium sized buyers into the marketplace. I think the question alludes a little bit to aggregation and maybe that aggregation is one way to approach it. It may also be that ultimately the direction that we end up going is trying to figure out ways where it's a much simpler system where you just end up on a green rate and you don't really do any negotiating at all. It meets your criteria for stringency and for quality and then you're just on a green rate and you kind of don't have to think about it. So definitely a great question and one that we continue to focus on. So moving through a little bit more of the slides on the corporate procurement landscape, I also find this slide really interesting where are companies signing deals? So some of the folks on the phone may in the back of their head have some of those great maps that like NREL generates of the solar resources and the wind resources available in the country. And definitely you look at Texas and Oklahoma and you're like, all right, well, some of the best wind resources in the United States. It also so happens that they're very easy markets to transact in. They've got robust wholesale markets. There's a lot of liquidity. So those kind of make sense. North Carolina and Virginia are fascinating ones. There were some incentives in North Carolina many years ago that encouraged the development of a lot of small solar projects and even after those incentives expired, what you saw was a robust network of developers on the ground there that were able to continue to put in projects. So I think that's really interesting. Virginia, there's a lot of data center capacity in Virginia. So a lot of folks do projects there. We've been a lot of projects in Virginia. Some of these gray states with no deals in them are also pretty interesting. A lot of them don't have a wholesale market operating behind them, which can make it much harder for companies to transact. We find that in parts of the West. We find that in parts of the Southeast. Some of them may not have sort of the physical infrastructure required to interconnect renewable energy projects. And then some of them just don't have the renewable energy resources. So the wind doesn't blow strongly enough or the sun doesn't shine brightly enough to support it. But you can see Texas is just way out there. A lot of companies have done transactions in Texas, including Facebook. Yeah, here's another interesting one. Just talking about where the renewables are located relative to the corporate facility. So there's a lot of different views on that. And to some extent, it depends a little bit on a little bit on the company. So from Facebook's perspective, we have always prioritized signing contracts with renewable energy projects which are located in the same grid region as our data centers. It's one of our sort of philosophical principles of doing renewable energy projects. It's important to us to make sure that the renewables are adding value to the grid in the places where we're taking energy off of the grid. For some companies, that's not possible. So if you have a bunch of small disaggregated locations, but you're transacting with a large, say wind farm, you're gonna aggregate the load across many jurisdictions, many locations, and then transact one project to essentially offset the balance with that load. So you've got a pretty wide range of things that companies do in order to meet their renewable energy objectives. And I always think of sort of a spectrum along which a company can move. And really that spectrum starts with kind of, they don't have a lot of resources. They wanna do something and they do the minimum of what they can do. And then moving along all the way up to where you kind of get up to the Facebook stage where we were contracting with dozens of projects. We've got dedicated rates with utilities and all sorts of stuff. And we're really focused on that geographic element. It's been a part that's been important to us the whole time, but you see a pretty wide range of things that the companies are doing out there. Let's now zoom back in. So we zoomed out, sort of talking about corporate renewables and what that's looked like around the country. And now, let's zoom in a little bit and talk about what Facebook has done and what Facebook is doing. So this is in one slide, Facebook's renewable energy journey. 2011, we became one of the first companies to make a commitment about meeting a renewable energy goal. We set a 25% goal then, but maybe more importantly, we set 100% renewable energy goal without a time limit on it. So all the way back in 2011, we were like, hey, someday we wanna get to 100% renewable energy, we don't know when we're gonna do it, we're gonna do our best, but that's where we're headed. In 2018, we met the second goal which we had set, which was 50%, and we committed to hitting 100% renewable energy in 2020. And without saying definitively that we're gonna do that, we're absolutely moving in the right direction, we feel pretty confident that we're gonna be able to do that. And also important to note, we've been talking about data centers, some of Facebook's original goals were focused on data centers, but our 100% renewable energy goal in 2020 is for all of our global operation. So by the end of this year, 100% of Facebook global operations will be supported by renewable energy. 2019, this number has just recently been released, we hit 86%, which everybody is super proud about. We've got more than five gigawatts of contracts, so 26 for corporates of which five are Facebook, it's a big piece of that chunk, and we've been really busy. In 2019, Facebook was the largest corporate buyer of renewable energy in the US, at least according to Rebus totals, which are pretty good. And the second largest corporate buyer in the world, and actually in 2018, we were the largest corporate buyer in the world. So the last two years have been really busy for us, certainly even before that, but the last two have been really, really big years for us, and we're incredibly proud of the amount of renewable energy that we're able to bring to the electric grid. Also, just very briefly, renewable energy incredibly important, we believe in it strongly, but going back to the old adage about energy efficiency, the best kind of electron is the one you don't use in the first place, whether it's renewable or not. And so we spent a huge amount of time working on energy efficiency, and we believe that our data centers are 38% more energy efficient than sort of the average industry data center. It's ingrained into everything our design and hardware teams do, and we've done some really great stuff there. We also use a lot less water than the average data center. So efficiency is top of mind, first and foremost, it really becomes the thing on which everything else is built. So I want to spend a couple of minutes talking about how we actually do this. So how do you buy this stuff? Like if one wants to go out into the market and buy renewable energy, what do you do? So there's really two pathways that we use, and there's as many flavors of this as there are electric markets in the United States, for those of you that are aware that the energy market in the US is highly Balkanized. You've got a lot of different players, you've got many different regulators. So it's a little bit different, but if you had to bucketize it into two things, these would be the buckets. The first is we buy direct. So we're signing power purchase agreements directly with projects. We're working with the developers of those projects. And really it's a transaction which sits, it's related but sort of sits off to the side from how we're serving our facility with energy. The second bucket is working with a utility. And many of these are actually through arrangements that we call green tariffs. So there's a special rates that the utilities design to allow customers to bring more renewable energy into their portfolio. Some of them kind of pair with existing utility rates. Some of them are fully encompassing utility rates where the whole thing is built around the types of renewable energy resources that are in the mix. In New Mexico, there's a renewable energy green tariff that we did there where we're bringing wind and solar projects and the utility is looking at that and has put a whole rate together which allows us to serve the facility with those resources. So many different options in terms of how we do this, but ultimately we're either buying directly from the project or we're partnering with one of the utilities that we work with around the country. Some of this also depends on the market structure in the place that we're looking for renewables. So in some parts of the country, we have what are called regulated energy markets where you have regulated monopoly utilities that are serving exclusively to customers in those markets. And there we partner directly with those utilities in part because we don't have other options. In other markets, as we call deregulated markets or choice markets, you have many more options in terms of how you serve facilities that essentially you can choose from a list of providers and that gives you some additional flexibility in terms of how you serve. So we're probably a little bit disproportionately weighted towards regulated markets. And so we do a lot of work with regulated utilities, but we've got a number of sites in deregulated markets as well and some direct contracts in those markets too. So I've got a question here. Maybe there's a couple of them related to renewables and what does 100% mean? So we've got this 100% goal, like what does it actually mean? And the reason that people tend to ask that question is the wind doesn't blow all the time, the sun doesn't shine all the time. So how can you say that you're renewably powered? Sometimes we also talk about like it's not like you're plugging a wind farm into the data center. So how can you guarantee? So look, the way that this works is the way that basically all renewable energy programs around the world works, which is right now what we are focused on is a volumetric matchup on an annual basis. The amount of renewable energy that we put onto the grid is equivalent to the amount of electricity that we pull off of the grid. And this is an important concept. It's sort of in terms of the spectrum of renewable energy procurement, it's pretty far along the spectrum and it's better than just buying a generic renewable energy credit and kind of saying that we're done. So we're in the same grid region, we're contracting with new renewable energy projects that we feel that we've made significant contributions to those projects happening. And we're making sure that the volume of renewables generated matches the volume of load that we have on the system. As we move beyond that, and we'll talk about this a little bit later, we do start to think about like what might come next, how might we think about a system where you're really thinking about a fully decarbonized system. Some of you that are on the call by to seeing a concept note or a white paper that Google put out about a year and a half ago where they introduced a concept of 24 seven renewables where they were really saying, all right, every hour, every day, if you wanted clean what would that look like? How would you do that? And that concept note has sparked some really interesting conversations. And it's something that we've looked at. One of the things that's really interesting about Facebook's portfolio is just because of the mix of resources, wind and solar, for those of you that maybe aren't familiar, wind and solar tend to generate at opposing time. So wind generates a little more at night, solar generates a little bit, obviously only during the day when the sun is shining. And what we find is if you start to sort of overlay the generation profiles, you've got a significant matchup of generation hour by hour, but it's not a hundred percent, kind of where do we go from there? I think one of the things that we're interested in thinking about is the next step, moving to hour by hour for an individual company or is the next step really trying to figure out how we push the grid as a whole to greater penetration of renewables and get to an hour by hour for the grid, thereby greening the grid for everybody. So I'll spend a couple of minutes towards the end chatting about that one, but that's how our goals work and the goals of all other companies work. So our portfolio, I mentioned before, if you go to sustainability.fb.com, you can see a bunch of information regarding where our Facebook data centers are, so those little blue X. Every single project that we've contracted with, we have more than 50 projects, it's a staggering number of projects and a very small team really, when you take 20 people with data centers and getting those plugged in and lights turned on and contracting all these renewable energy projects, it's as much load in as many projects as a medium-sized utility and we're doing it with 20 people. 30% of those projects are operating, 50% of them are under construction. It's just, it's great and this is a screenshot of a map which is interactive. So you can go find that map, you can click on it, you can see all kinds of great details about the project. As you can see, the projects are clustered within the grid regions of the projects of the data centers, which again is one of our main priorities. So just to give you a little sense, like what does this look like, right? So this is one of those 50 projects. This is a 100 megawatt project called Bancroft Solar, it supports data center site in Georgia, I believe. It's got 355,000 solar panels spread across 1200 acres and created 675 construction jobs. I mean, these things are really, really massive and this is one of 50. We've got projects that are even larger than this, we've got projects that are smaller than this, but the scale of the impact, like the scale of pretty much everything Facebook does is really quite large. So we've made a lot of progress in our renewable energy journey through time and one of the things that I always like to show is that not only has our percentage of renewables grown through time, but our load has also been growing significantly through that period as well. So both increasing the amount of renewables while also seeing our load increase at a really significant rate and all of this data is on our website, so you can go check it out. So the last piece of this, and then I'm gonna stop and the questions have been great. I've been grabbing a couple as we go and then we'll get a chance to bring John back and do some more of them because I'm really looking forward to it. But just to give you a little bit of a sense of what is coming next. We've got a very small handful of companies that have hit 100% renewable energy goals that Google and Apple have done it publicly. We're getting very close, this is our year. So what are people starting to think about next? And really this is one of the reasons why we love Reba is because Reba is helping to think about this. So this is kind of a busy slide and there were all kinds of buildup slides coming up to it that I'm not gonna show. But what they are focused on is figuring out how to green the grid for everybody. So this kind of goes back to this thing that I was talking about before. If you want 1,000 customers or 10,000 customers buying and selling renewable energy, they're not gonna do it by signing PPAs because of that great question that we had earlier about small companies. If you have 10% of a sustainability professional's time thinking about renewables, they're not gonna negotiate a 50 page PPA, it's not possible. So what we have to do is think about the ways in which the pathways that we can help move the grid towards decarbonized future. And that's a big part of what Reba's doing right now. They've got something called a Pathways Analysis where they're looking at some of those options. So some of the things that they've studied and that you can see on this chart is showing you kind of the overlay of all of the tools that we're seeing around the country. The first utility green tariffs, those have been around, a lot of people use them. Some of them are more effective than others, but they do drive customers into new renewable purchases. Then we've got utilities that are making commitments. We've got some very large utilities in the United States that have made 100% renewable energy commitments. We've seen Excel do that. We've seen Duke do that. Timelines and some other things I think are still interesting on that, but it's meaningful, it's important. We've seen the development of wholesale markets around the country. We've got those big gray swaths of the country that don't have active liquid wholesale markets. It makes it very difficult to get projects done. We've also got states that are setting 100% renewable energy targets. It started with Hawaii in 2015 and now we've seen all the way up in Virginia setting 100% renewable energy targets just in this last legislative session. You think about how to bring customers forward if the state has 100% renewable energy target, then every customer is gonna be on 100% renewable energy and that will drive more customers into being 100% renewable than trying to figure out how to get all of those people procuring renewable energy. We've also got a number of states where the executive branch of the government has set 100% renewable energy goal and then also states with retail choice. There's some interesting questions around if you just make it easier for companies to choose renewables, will they do that? And in some places it seems the answer is yes in some places it seems like the design of the market makes it challenging for that to happen but you look at a state like Texas and there are a number of providers like a fully deregulated state like so many things in Texas they do everything their own way in terms of energy markets. And there are a bunch of providers there where if you're a small mom and pop business or even a residential customer and you want 100% renewables very easy to find somebody to serve you with that supply option. So the long and the short of it is you look at a chart like this and you see this patchwork but each one of these tools has the potential to increase the amount of renewable energy that companies, non-residential customers are able to buy. And I think ultimately we're working with Riva to try and figure out which one has the one or ones is gonna move things forward fastest and really drive as much decarbonization as much renewables as possible under the grid. So I'm gonna stop with the content there and we've got a ton of questions. So actually maybe I'll save a little bit about kind of how I got to where I am in renewables for the student session towards the end and we can just jump to John and to questions. Great, well you've done a great job answering questions already it makes my job easier. There seemed to be a lot of questions regarding what I would call grid integration of renewables. So this ranges from when you buy direct how do you get transmission services? What do they cost? Are they reliable? Do you play in grid integration inducing activities which could be buying storage, renting storage, you're an IT company you would be probably it would be easier for you to do demand response either on the buy or sell side of that how far into that game are you? Or are you just kind of, you're so big are you kind of market price takers and all those things that just work from that way? So how active and aggressive are you? A lot of people seem to be worried about that there was even one question about, well, if you don't, if you get the higher renewables aren't you gonna need more fossils to do firm power and ancillary services? And so I know that's a bunch of things put together but you seem like the kind of person who actually thinks in a very strategic holistic way about that part of the challenge. Yeah, I mean, so we spent a lot of time thinking about that, not least in which because many of the utilities that we work with haven't thought about it themselves. So their jurisdictions were the biggest customer on the utility system by a wide margin and we're coming in and we're saying, hey, we're gonna do the whole thing on renewables. And then it's like, holy cow, I hadn't even... So now you're gonna move a meaningful portion of my system to renewables and how are we gonna deal with this? So one of the underlying premises of everything we do with utilities is that it is important to us to have no net adverse impact on other customers. We are responsible for the costs of what we're doing and we always make sure that we pay those costs. We also don't wanna be saddled with costs that aren't our responsibility. So ultimately what we do is we have to work with utilities to understand what the integration costs are, what's caused by us, what's caused by other parts of the system and figure out the most equitable way to address that usually contractually, but sometimes through the market. And the other interesting piece of this is that we're not only dealing with it from the renewable side, we also deal with it from the load side. So we're a transmission level load in most places. We're talking more than 100 megawatts. And you saw in the corner of that rendering that big old substation there. So we're plugging into the transmission part of the grid and the conversations aren't necessarily so different. It's what is the most equitable way to allocate the costs which are caused by a specific customer and what parts of those costs really are enuring benefit to the rest of the customers on the grid. But it varies every state to every state. But I think we are seeing more and more places where that's a conversation we're having. I will say though, and I just wanna call this out because I've been hearing more and more frequently, even in the folks that care about renewables, talking about like, hey, like we gotta slow down corporate procurement because we're gonna get too much renewables on the system and then it's gonna drive more fossils. And like, there's a very small handful of markets where that's the case. Like California, maybe just California, maybe one or two other places depending on how you wanna look at it. But unfortunately, we are not at the place or maybe fortunately depending on how you wanna think about it where we're anywhere close to having integration problems. Like most of the integration that I'm talking about is its transmission capacity. It's not this other stuff. Like we should just be plowing as much renewables onto the grid as possible in most parts of the country and the grid can handle it. We're nowhere near the penetration levels where we're gonna have grid stability issues from having too much renewables. So I think none of the corporate buyers should slow down. Like we should be so lucky as to find ourselves in a situation with the limited exception of maybe California, Arizona, a couple of other places where you are starting to have to think about that and the duck curve in a meaningful way. But like in most places it's just not the case and we can put a lot more renewables onto the grid. So we think about it, we care about it but don't let it slow you down. Like we have to get more renewables onto the grid and more customers need to be getting more renewables onto the grid. But just to parse that just a little bit, I think that was a great answer. Do you currently own battery capacity or are you looking at that as something, particularly, I don't know how this works but I imagine reliability is a big problem if the server farm goes down, that's not a very good thing. You hear from Washington, not just your customers probably. Yeah, so we don't have a, well, I'll say one interesting thing. Data centers are actually the biggest battery storage installations on the grid today because they've all got uninterrupted power supplies but they're not configured in a way to use those batteries productively outside of the specific purpose at the data center, which is making sure that there's power continuity to the servers before the backup generation kicks in. Maybe something like people are starting to think about this, you know, we know all of the data center energy teams know each other. I think the Microsoft team is great. They do a lot of really cool like R&D sort of studies and I know they've done some work thinking about using uninterrupted power supply batteries for other grid services. We haven't done that, but that's sort of interesting. Separate to that, you know, you started utility scale batteries. We've got one battery on one of our projects in New Mexico. It's a one megawatt, one megawatt hour battery on a wind project. It's specifically addressing some of the complexities of a particular project. I think we are finally just starting to see a world where the economics on batteries pencil where we might start seeing them on more projects. So I always say that we are technology agnostic and cost sensitive in our contracting. And so very interesting to see batteries. I think the other thing about batteries is the markets are struggling to catch up with the diversity of services that batteries can supply to the grid and at the same time. So, you know, I sort of think about like a battery needs like one and a third, one and a half revenue streams to kind of work. And a lot of the regulatory constructs haven't quite caught up with how to create a rate structure that accommodates that sort of revenue pancaking. And so I think there's a lot of interesting things you could do at the introduction of utility scale batteries into the management of large loads. But we're not really set up with that way right now. So we've got a lot of conversations going there. I wouldn't be at all surprised if we saw large scale storage integrated into some of our projects and the way we interconnect some of our facilities. I bet it's going to be another year before we see that though. So on the demand response, would you give pretty much the same answer or are you further along thinking about that or not as far as on the battery side? You know, demand response is really interesting in the data center community. You've got some large and the folks out there that run data centers, it's kind of a small world. They jump around their facilities, engineers, facilities, operations. And as you were surmising earlier, reliability is king or queen. And really anything that might jeopardize the overall reliability of the facility is frowned upon. So you've got certain groups of folks that do facilities management for data centers that think using backup generation to do demand response is fine. And you've got others that wouldn't touch with a 10-foot pole. And they fall into two camps and I see this across the industry, across operators. I won't necessarily say what camp Facebook falls in, but it's one of the two. Sure. Good, thanks. Yeah, there were a range of questions regarding differences in procurement of renewables in the US and abroad. And even one about why did you cite a big data center in Singapore, given the cost of land and the labor there, particularly land, I imagine. Yeah, I'll answer that one first in sort of not an entirely specific way, but there are hundreds, if not thousands of factors that go into making data center citing decisions, even in the US, like picking from state to state. When you start to look internationally, we are balancing so many different things to find the right places to cite these facilities. Singapore checks a lot of boxes for a lot of people. There are actually a lot of data centers in Singapore. So you can just kind of assume what some of those boxes might be. That said, it's a challenge to find renewables there. We're working really hard on it. We've got a bunch of people that are dedicated to finding enough renewables. There's not a lot of land to do solar and wind and so figuring out how you make that work. We've been fortunate to have a couple of projects to support the early phases of that facility, but we're gonna need more and we're working hard to figure that out. Going back to the first part of your question, now I'm blanking at what it was. Can you refresh me what was the first part of your question? How is the procurement process for renewables different outside the US? All right, yeah, yeah, yeah. Yeah, that's also a very interesting question. You know, in some ways, like taking Europe as an example, Europe was relatively far ahead of the United States on the deployment of policy-driven renewable energy programs. So, you know, you saw a lot of countries setting these programs to deploy. In the United States, we had somewhat less of that. And so in a sense, corporate procurement sprung up to fill a void where companies wanted more renewable energy that was available to them on their local grids. So they started doing their own thing, and conversely in Europe, A, it took a little while longer for companies to say, hey, we want to procure beyond the already aggressive targets that we're seeing in Europe, but also because they were so far along from a policy perspective, it's actually been a little challenging to procure in Europe, particularly through PPAs, because no one ever had a contemplator. They didn't contemplate it for a long time. So in some sense, PPA-driven procurement in Europe I think is a number of years behind where it is in the United States, but we are getting stuff done. There are markets in Europe that work. We just signed a very large wind project called Burekheim that'll support a number of our Nordic facilities. And so people are figuring it out, but it does, it takes time. And so I think, not only do we see country by country differences and market by market differences, but even in the United States, every single utility we work with is going to be different. Every market we work in is going to be different, which is one of the challenges for smaller customers. It's like, it takes expertise in 15 different markets or 20 different markets to meet a whole portfolio. And that's very, it's just hard. Great. Well, Peter, I think we need to move on to the face-to-face, no pun intended. Student session at this point, because I know they're anxious and probably envious of where you are and anxious to get there as soon as possible. I will say, thanks for a terrific talk and also some good news, given that this is our last seminar and it seems that the whole world sucks right now. So thank you for being a shining counter example to that trend. Thanks again, and I hope you'll come visit us as soon as the fog lifts from the world. Well, thank you so much for having me. I love, as you can tell, I'm passionate about this. I love to talk about it. And I'm really looking forward to getting over to campus and actually meeting some of the folks over there. So thanks everybody online. Thank you, John. Thanks everyone. Great. Thank you all.