【SMM New Energy News】NEA: Grid Fixed-Asset Investment to Hit 5T Yuan in 15th FYP

Chevron and Joulent will jointly develop the 2.67GW Kilby power project in Texas to supply electricity to a Microsoft data center under a 20-year power purchase agreement. The project will combine natural gas generation with battery energy storage, initially operating behind the meter before a planned future grid connection.

The third meeting of the Jiangsu Provincial Energy Committee, also a meeting on ensuring energy and power supply during the summer peak, was held on June 29. The meeting stressed the need to strengthen power security and supply capacity, ensure the timely commissioning of supporting power sources, accelerate the construction of new energy such as distributed PV and offshore wind power, and build a new-type power grid system in conjunction with the "Six Networks"; deepen energy reform and innovation, accelerate energy technology innovation, coordinated development of computing and electricity, and AI empowerment; and establish a power market system with diverse players, orderly competition, and standardized operation.

Exelon, a leading US nuclear power company, recently warned that the US could face blackouts as early as 2027 due to growing electricity demand putting pressure on the power grid, and that higher electricity rates will be needed to fund new infrastructure. The operator of AI hyperscale data centers caught everyone "off guard" and "underestimated" the headwinds their data centers would face.