AI's energy hunger fuels geothermal startups but natgas rivalry clouds future
- Geothermal energy startups are on the upswing with Big Tech companies looking to feed their power-intensive AI data centers, but long-term investments remain uncertain as oil majors double down on natural gas.
Geothermal has been promoted as a faster way to generate carbon-free electricity than nuclear and without the intermittency of wind and solar. However the startups still face high upfront costs, particularly for drilling, and long project approval times. Sage recently closed a $30 million fundraising led by U.S. shale gas producer Expand Energy, formerly Chesapeake Energy, and plans to launch its Series B round in January.
Geothermal aims to compete on cost. The average levelized cost of electricity of conventional geothermal projects in the U.S. is around $64 per megawatt-hour , which is competitive with other dispatchable energy sources such as combined cycle gas, which is around $77/MWh on average, and nuclear, which is around $182/MWh, according to energy consultancy Rystad Energy.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
Similar News:آپ اس سے ملتی جلتی خبریں بھی پڑھ سکتے ہیں جو ہم نے دوسرے خبروں کے ذرائع سے جمع کی ہیں۔
Wall Street parties like it's 1998 as AI fuels gains unmatched since dot-com eraWall Street parties like it’s 1998 as AI fuels gains unmatched since dot-com era
مزید پڑھ »
US energy infra firms set for record gains as AI power demand soarsUS energy infra firms set for record gains as AI power demand soars
مزید پڑھ »
US energy infra firms set for record gains as AI power demand soarsUS energy infra firms set for record gains as AI power demand soars
مزید پڑھ »
Chinese billionaire Jack Ma sees AI future for Ant Group, in rare appearanceAnt operates China's ubiquitous mobile payment app Alipay and in mid-2020, it was valued at $300bn
مزید پڑھ »
Adani Energy Solutions says no material impact from Kenya energy deal cancellationAdani Energy Solutions says no material impact from Kenya energy deal cancellation
مزید پڑھ »
Large Groups of Women and Children Scavenging for Food in Gaza StripLarge groups of women and children are seen scavenging for food among trash in parts of Gaza Strip, raising serious concerns about hunger levels and humanitarian aid access.
مزید پڑھ »