Oil Price More than a dozen of the largest banks in the world are pledging their support to nuclear power, supporting the goal of the COP28 summit to triple nuclear capacity by 2050, the Financial Times reports. Goldman Sachs, Bank of America, Barclays, BNP Paribas, Citi, Morgan Stanley, Société Générale, Crédit Agricole CIB, Abu Dhabi Commercial Bank, Ares Management, Brookfield, Guggenheim
CNBC Constellation Energy plans to restart the Three Mile Island nuclear plant and will sell the power to Microsoft, demonstrating the immense energy needs of the tech sector as they build out data centers to support artificial intelligence. Constellation expects the Unit 1 reactor at Three Mile Island near Middletown, Pennsylvania, to come back online in 2028, subject to approval by
Oil and Gas 360 Publisher’s Note: You can view the EnerCom Denver—The Energy Investment Conference and the Energy Transition and Emerging Technologies Series presenter replays for a limited time. Oklo Inc. is developing fast fission power plants to provide clean, reliable, and affordable energy at scale. Oklo received a site use permit from the U.S. Department of Energy, was awarded
Oil and Gas 360 Publisher’s Note: You can view the EnerCom Denver—The Energy Investment Conference and the Energy Transition and Emerging Technologies Series presenter replays for a limited time. Chapman Nuclear is a third-generation nuclear company focused on power generation, shielding, and construction. For over 70 years, we’ve served as champions and good stewards for the industry on the cutting
Oil Price For the first time ever, U.S. electricity generation from utility-scale solar and wind exceeded nuclear power plants’ power output in the first half of 2024, according to data from energy think tank Ember quoted by Reuters columnist Gavin Maguire. Electricity generation from solar and wind hit a record-high of 401.4 terawatt hours (TWh) between January and June 2024, surpassing
Oil Price The United States is likely 10 to 15 years behind China in deploying fourth-generation nuclear reactors at scale, as Chinese authorities are strongly backing the domestic industry with policies and financing, a new report by Washington-based research institute Information Technology & Innovation Foundation showed on Monday. China supports its domestic nuclear power development with extensive financing at low rates from
U.S. News WASHINGTON – The United States could revive some of its recently retired nuclear power plants to help meet rising demand for zero-emissions electricity, or add reactors to existing sites, Energy Secretary Jennifer Granholm said in an interview. The administration of President Joe Biden believes nuclear power is critical to meeting greenhouse gas reduction goals and decarbonizing the economy
Yahoo Finance WASHINGTON – The United States and Japan announced a joint partnership to accelerate development and commercialization of nuclear fusion, the U.S. Department of Energy said on Wednesday. The partnership was announced as Japanese Prime Minister Fumio Kishida was in Washington for a summit with President Joe Biden. U.S. Deputy Secretary of Energy David Turk and the Japan Minister
Nasdaq WASHINGTON (Reuters) – The U.S. proposed rules on Friday for how energy companies can access billions of dollars in tax credits for producing low-carbon hydrogen using new clean energy sources but left thorny issues, such as how nuclear power could benefit, uncertain. The credit will be based on the life-cycle greenhouse gas emissions from the power source used in hydrogen production,
Nasdaq California’s utilities regulator on Thursday granted a five-year extension to operate Pacific Gas and Electric’s PCG.N Diablo Canyon power plant, the state’s only nuclear facility, to avoid electricity shortages during extreme weather events. The California Public Utilities Commission (CPUC) approved extended operations at the 2,240-megawatts Diablo Canyon plant’s two reactor units until 2029 and 2030, from 2024 and 2025, respectively. PG&E
Nasdaq DUBAI – The global nuclear industry got a morale boost at the COP28 climate summit in Dubai after more than 20 nations vowed to triple capacity by 2050. But reaching that goal will require the industry to overcome regulatory hurdles, financing obstacles, fuel bottlenecks, and public safety concerns that have contributed to a long history of project delays and decades of
Oil Price The Vogtle Unit 3 nuclear power reactor has safely reached initial criticality, a milestone toward full commercial operations expected later this year in what would be the first new nuclear reactor in the United States starting activity since 2016. Vogtle Unit 3 has safely reached initial criticality, Georgia Power, Southern Nuclear, and Westinghouse Electric Company said this week. Initial criticality
