Engine No. 1, Chevron U.S.A. Inc. (NYSE: CVX), and GE Vernova (NYSE: GEV) have announced a new partnership that is set to revolutionise power solutions for US data centres.
The collaboration aims to establish the first multi-gigawatt-scale co-located power plant and data centre during President Trump’s second term, leveraging America’s abundant natural gas resources to drive AI leadership.
The joint venture plans to develop “power foundries” utilising seven US-made GE Vernova 7HA natural gas turbines.
These projects will serve co-located data centres in the Southeast, Midwest, and West regions of the United States, with power generation designed to bypass the existing transmission grid, thus minimising the risk of increased electricity prices for consumers.
With a targeted initial service date of late 2027, the development aims to deliver up to four gigawatts of power, equivalent to supplying 3-3.5 million U.S. homes.
The projects are designed with flexibility to incorporate lower carbon solutions, including carbon capture and storage capable of capturing over 90 per cent of CO2 emissions, as well as renewable energy resources.
Chris James, founder and chief investment officer of Engine No. 1, emphasised the critical role of energy in securing America’s AI dominance.
Chevron’s CEO Mike Wirth expressed pride in contributing to President Trump’s vision of a new American golden age, powered by domestic energy resources.
Scott Strazik, CEO of GE Vernova, highlighted the company’s unique position in providing innovative energy solutions to support the rapid growth of data centres in the US.
This innovative model is expected not only to meet the growing energy demands of data centres but also to potentially sell surplus power to the US grid in the future.
The joint development is anticipated to create thousands of jobs and contribute to the reindustrialisation of the United States, addressing the pressing need for affordable and reliable energy in the rapidly expanding digital technology sector.
