Weighing the benefits of immediate electricity access vs long-term growth
Welcome back. On Wednesday, ExxonMobil revealed plans to build its first commercial gas power plant to supply electricity directly to an artificial intelligence data centre. The oil major will face off with nuclear energy companies vying to serve Big Tech’s exploding appetite for electricity, at a time when US power demand is expected to surge 16 per cent over the next five years, according to a recent study.
” Nuclear financing in particular has been verboten at the Bank, though that may be changing, and it has faced pressure in more recent years to halt financing for new fossil fuel projects due to their carbon emissions. Advocates of solar energy emphasise that it can be installed quickly to serve households in rural areas that lack transmission. Home solar power systems sold by fast-scaling companies including Sun King have brought electricity to millions of households.
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