Activist investor Engine No.1 is now teaming up with Chevron to build natural gas-fired power plants to meet soaring AI-driven electricity demand.
Engine No. 1, the investment firm that four years ago picked a fight with U.S. oil and gas supermajor Exxon over climate and won is now teaming up with the other supermajor, Chevron , to build natural gas-fired power plants to meet soaring AI-driven electricity demand. In a sign of changing times and a signal that investors continue to chase money and profitability, Engine No. 1 sees a huge opportunity in the AI-led power demand growth in the United States.
The joint development, together with GE Vernova, which will supply U.S.-made natural gas turbines, aims to establish the first multi-gigawatt-scale co-located power plant and data center during President Trump's second term. 'Early actions of the Trump Administration are setting the critical foundation to encourage investment leveraging America's energy abundance to enable America's AI leadership,' the three companies said in a joint statement.
Exxonmobil Engine 1 AI Data Centers Gas Power Generation
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