All articles tagged with #capacity expansion
United Airlines expects higher-than-expected Q4 earnings despite a revenue shortfall in Q3, driven by capacity expansion and loyalty program growth, amid a challenging airline industry environment.
OpenAI announced plans to add five new sites to its Stargate data center project, increasing its planned capacity to seven gigawatts over three years, as part of a broader effort to support AI development and stay ahead in the AI race, despite some delays and site selection challenges.
Cheniere Energy announced a positive final investment decision on the Corpus Christi Midscale Trains 8 & 9 project, which will increase the company's LNG capacity by over 10% to more than 60 million tonnes per annum by 2028, and plans to deploy over $25 billion through 2030 for growth, share repurchases, and dividends, with an expected dividend increase of over 10%.
A leaked internal document reveals Microsoft's plan to significantly expand its data-center capacity to meet the demands of the AI boom, with a goal to double new capacity in the second half of its fiscal year and achieve 3x growth in the first half of 2025. The company has already delivered over 500 megawatts of new capacity since July 2023 and aims to handle the rise of generative AI and foundation models through partnerships with OpenAI, requiring a substantial increase in GPU capacity. This rapid expansion raises questions about environmental consequences and competitive positioning, while signaling the company's commitment to meeting growing AI demands.
Over 100 countries at the COP28 climate summit have agreed to triple global renewable energy capacity by 2030, but there is little detail on how this ambitious goal will be achieved. The renewable energy industry is already facing challenges such as supply shortages, labor shortages, rising project costs, and local opposition to energy projects. Additionally, developers face delays in connecting to the grid, and the construction of new transmission lines can take a decade or more. Financing the growth of renewables is also a significant challenge, as investment needs to more than double to over $1.2 trillion annually by 2030. Infrastructure investors have tightened their purse strings due to higher interest rates, making it harder to finance projects. More government support and discussions on grid delivery, permitting reform, and auctions are needed to overcome these barriers and achieve the renewable energy targets.
Chinese power and energy investment companies, China Longyuan Power Group Corporation and CHN Energy Investment Group, have announced a joint venture agreement to build an 11-gigawatt renewable energy generation base in the Badain Jaran Desert. The project, if approved, will be one of the world's largest renewable energy sites and will include thermal power, energy storage, and solar thermal projects. China is already the global leader in renewable energy spending and capacity additions, and this project further solidifies its position.