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Welcome to the end-of-November issue of the Best of POWER, a bi-monthly e-newsletter from POWER magazine that provides important news and information that many in our audience have found to be must-reads.
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Trump Picks Oil and Gas Executive as New Energy Secretary | President-elect Donald Trump announced that Chris Wright, the CEO and founder of Denver, Colorado-based Liberty Energy, will lead the Department of Energy (DOE) in the new administration.
Southern CEO: Data Center Demand, Regulatory Changes Could Keep Coal-Fired Units Online | Utilities recognizing the need to produce more electricity, in part to satisfy demand from data centers, may keep coal-fired units in operation longer than anticipated. A lessening of environmental regulations under the incoming Trump administration also means power generators are rethinking plans to retire their fossil fuel-burning facilities.
NRC Approves Construction of First Electricity-Producing Gen IV Reactor in the U.S. | The Nuclear Regulatory Commission (NRC) has taken a historic step by voting to issue construction permits for Kairos Power’s 70-MWth Hermes 2, a “low power” advanced test facility comprising two 35-MWth molten salt reactors. “Following the Commission’s vote, Hermes 2 is now the first electricity-producing Gen IV plant to be approved for construction in the United States,” said Kairos Power.
In Case You Missed It: How the Presidential Election Could Impact Renewable Energy Tax Credits | President Biden signed the Inflation Reduction Act (IRA) into law in 2022. The IRA is the largest public investments in renewable energy in American history and created more than 20 different tax incentives for renewable energy and related manufacturing.
Power Shift: Trump’s Energy Agenda Sparks Cautious Optimism, Climate Concerns | Tuesday’s election, which will return Donald Trump to the White House and grant the U.S. Senate a Republican majority, could have sizeable implications for the power industry. In reactions sent to POWER, industry groups expressed a combination of cautious optimism, resilience, and preparedness for potential changes.
Entergy Louisiana Eyes 2.2 GW of New Gas-Fired Generation to Support Data Center Demand | A filing with the Louisiana Public Service Commission shows that Entergy plans to build more than 2 GW of natural gas-fired power generation in the state, including a 1,500-MW facility in northeast Louisiana that would provide power for a large Meta data center operation in an area off Interstate 20 in Holly Ridge (Figure 1). Meta is the parent of social media’s Facebook.
Solar Leader Enphase Energy Cutting 500 Jobs | California-based Enphase Energy, a company known for its solar power and electric vehicle (EV) charging technology, announced it is laying off about 500 workers. The company in a Nov. 8 filing with the U.S. Securities and Exchange Commission (SEC) said a challenging economy for the solar power industry requires reduced spending.
Oklo’s $25M Move into Radioisotope Production to Expand Advanced Nuclear Revenue Stream | Oklo has moved to acquire Atomic Alchemy, a U.S. firm specializing in high-value radioisotopes, in a $25 million all-stock transaction. The acquisition will add radioisotope production capabilities to Oklo’s advanced reactor and fuel recycling operations, creating a new revenue stream and strengthening the resilience of the isotope supply chain, the company said.
Leading U.S. Coal Producer Developing Solar, Energy Storage at Former Mines | A leading U.S. coal producer is partnering with a major developer of renewable energy projects to put solar energy and battery storage installations on reclaimed mine lands in Illinois and Indiana.
WoodMac Analysis Says Trump Energy Agenda Will Face Roadblocks | An analysis from global data and analytics group Wood Mackenzie says Republican control of the White House and Congress means U.S. energy policy will move away from net-zero emissions targets, but there remains bipartisan support for the Inflation Reduction Act (IRA). The group also said competitive economics for renewable power resources mean the energy transition will continue, despite a better regulatory landscape for fossil fuels.