Oil giant Chevron and Engine No. 1, an activist fund, are partnering up to build a new company that will develop scalable, reliable power solutions for the U.S.-based data centers running on U.S. natural gas.
The merger, in conjunction with GE Vernova, aims to establish the first multi-gigawatt-scale co-located power plant and data center.
A press release from Chevron outlines that the projects will serve co-located data centers in the U.S. Southeast, Midwest and West regions. These developments will deliver the equivalent of power for more than 3 million homes.
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“We are proud to play our part in bringing to fruition President Trump’s vision for a new American golden age, powered by our enormous energy resources and unrivaled workforce,” Chevron CEO and chairman Mike Wirth said in a statement. “President Trump’s pro-American energy policies and commitment to energy and …