US energy giant Chevron announced on Tuesday its partnership with Engine No. 1 and energy company GE Vernova to form a new company 'to develop scalable, reliable power solutions' for US data centers powered by domestic natural gas.
The joint development plans to deliver up to 4 gigawatts, the equivalent of powering 3-3.5 million US homes, with initial in-service targeted by the end of 2027 and potential for project expansion beyond this capacity, oil major Chevron said in a statement.
The deal aims to establish the first multi-gigawatt-scale co-located power plant and data center during US President Donald Trump’s second term, it added.
“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,” it said.
The deal came after a week after the US President Trump announced billions of dollars in private sector investment to build AI infrastructure in the US.
Trump said OpenAI, SoftBank and Oracle will form a joint venture called Stargate.
'That's a massive group of talent and money together. These world-leading technology giants are announcing the formation of Stargate...A new American company that will invest $500 billion at least in AI infrastructure in the United States...creating over 100,000 American jobs,' he added.
(Anadolu Agency, January 28, 2025)
