Chevron, Engine No. 1, GE Vernova to power U.S. data centers

TipRanks

Wed, Jan 29, 2025, 7:00 AM 1 min read

Engine No. 1 and Chevron (CVX) announced the formation of a partnership to build a new company to develop scalable, reliable power solutions for United States based data centers running on U.S. natural gas. The joint development, in conjunction with GE Vernova (GEV), aims to establish the first multi gigawatt-scale co-located power plant and data center during President Trump’s second term. The first projects, which the companies refer to as “power foundries”, are expected to leverage seven U.S. made GE Vernova 7HA natural gas turbines, secured under a slot reservation agreement, on an accelerated timeline. The projects are expected to serve co-located data centers in the U.S. Southeast, Midwest and West regions.

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