All articles tagged with #power generation
Constellation has completed its acquisition of Calpine, creating the largest U.S. electricity producer, combining nuclear, natural gas, and geothermal assets to provide reliable, clean energy and support America's technological and economic growth.
Vistra Corp. has announced the acquisition of Cogentrix Energy, adding approximately 5,500 MW of modern natural gas generation assets across key U.S. regions for about $4 billion, aiming to enhance its generation portfolio, deliver shareholder value, and support growth in the power sector.
Electricity demand is rapidly increasing, driven by the growth of data centers and AI development, with forecasts indicating a tripling of capacity needs, benefiting companies like WEC, AEP, EVRG, and PNW.
PJM's latest capacity auction set a record with prices reaching a $329.17/MW-day cap, up 22% from last year, driven by tight supply and demand conditions, and potentially leading to 1.5% to 5% rate increases for some consumers. Despite new generation and uprates, supply is not keeping pace with rising demand, prompting market consolidation and political debates over energy policies.
The US is recognizing geothermal energy as a significant resource, with New Mexico alone holding an estimated 163 gigawatts of potential, and recent policy moves aim to expand its development, supported by technological advances and interest from data centers and the Department of Defense.
Russian air strikes have destroyed or seized over half of Ukraine's power generation capacity, reducing it from 55GW to below 20GW and causing widespread blackouts. The EU is alarmed by the destruction of 9.2GW of energy generation since March, and recent attacks have targeted critical thermal and hydroelectric power plants. Ukraine faces significant challenges in repairing and replacing damaged infrastructure, with fears of severe energy shortages in winter. European countries are aiding with shipments of energy equipment, and Ukraine is increasing energy prices and adopting green technology to address the crisis.
PJM Interconnection, the largest U.S. power grid, may face the shutdown of up to 58,000 MW of mostly fossil fuel power generating capacity by 2030, potentially leading to increased consumer prices, as per a report by PJM's Independent Market Monitor. Factors contributing to this risk include a significant decline in prices in the region's capacity market, lower coal and natural gas prices, and regulatory requirements. The report emphasizes the need for securing replacement capacity to mitigate potential utility cost increases for consumers in the region.
NASA's Fission Surface Power Project, aimed at developing a small nuclear fission reactor to generate electricity on the lunar surface, has completed its initial phase with three $5 million contracts awarded to commercial partners. The project seeks to create a system that can support lunar bases for a decade and serve as a pathway for similar systems on Mars. The reactor designs are expected to provide a reliable power source during the 14-night-long lunar night and are part of NASA's Artemis program, with plans for deployment on the Moon in the early 2030s.
New Jersey has approved plans for two new offshore wind farms, despite setbacks faced by wind energy off the Jersey Shore coast. These projects, combined with a third already approved by the state, are expected to provide enough power for over a million homes in the next seven years, signaling continued progress in the state's renewable energy efforts.
The International Energy Agency (IEA) predicts that clean sources of generation will meet the world's additional electricity demand over the next three years, with power generation being the largest source of carbon dioxide emissions but also leading the transition to net zero emissions through the rapid expansion of renewable energy sources such as solar and wind power.
Parts of China, including provinces Shanxi, Hebei, and Liaoning, are experiencing record-low temperatures as a cold snap intensifies, with the city of Yichun potentially breaking a record low of minus 47.9°C. The agriculture ministry has launched an emergency response, and the national disaster prevention body has issued a directive for local authorities to prepare emergency plans and ensure stable energy supply. President Xi Jinping has called for an "all-out" emergency response, and while conditions are improving in Beijing, schools are reopening after being closed due to snowfall and icy roads.
General Motors has partnered with Komatsu to develop heavy-duty mining trucks powered by GM's hydrogen fuel-cell technology. The trucks will be equipped with GM's Hydrotec "power cubes," each containing 300 hydrogen fuel cells, capable of delivering over 2 megawatts of power. The partnership aims to create a fleet of hydrogen-powered mining trucks, taking advantage of the limited fueling capacity and long-term operation at mining locations. GM plans to use the power cubes for various applications, including mobile generators and vocational vehicles. Testing of a prototype truck will take place in Arizona, with plans for further deployment if successful.
Google has successfully launched its first geothermal energy project, marking a significant step towards its commitment to using 100% renewable energy for its operations. The project, located in Nevada, utilizes the Earth's natural heat to generate electricity, providing a sustainable and reliable source of power. This initiative aligns with Google's goal of reducing its carbon footprint and promoting clean energy solutions.
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.
The world's largest wind turbine, located off the coast of Fujian Province in China, has set a new record by generating 384.1 megawatt-hours of electricity in a single day during Typhoon Haikui. The turbine's rotor diameter is 827 feet, and its hub is 479 feet high. Equipped with an intelligent system that adjusts its blades to account for high wind speeds, the turbine can continue generating power without overloading. China's ambitious renewable energy goals aim to deliver half of all new global renewable power capacity between 2022 and 2027, and it is on track to achieve its target of 1,200 gigawatts of solar and wind power by 2030.