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Invenergy Announces New Agreements with Meta for Renewable Energy to Support Data Center Operations

LCG, June 26, 2025--Invenergy today announced that they and Meta Platforms, Inc. have signed four new clean energy agreements that total an additional 791 MW of procured solar and wind capacity to support Meta's near-term operations, data center growth, and clean energy goals.

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New York Power Authority to Develop New Nuclear Facility in Upstate New York

LCG, June 23, 2025--The Governor of New York today directed the New York Power Authority (NYPA) to develop and construct an advanced nuclear power plant in upstate New York to deliver zero-emission power that supports a reliable and affordable electric grid. NYPA will lead the effort to develop at least one new nuclear energy facility with a combined capacity of at least one gigawatt (GW) of electricity, either alone or in partnership with private entities. The directive builds on the Governor’s 2025 State of the State to develop nuclear energy plans in New York.

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Industry News

Spain's Hidrocantabrico may go to Portuguese Utility

LCG, Oct. 30, 2001--Government-owned Electricidade de Portugal is expected to gain control of Spanish utility Hidroelectrica del Cantabrico because of its alliance with Cajastur, a Spanish bank which is a major shareholder of Spain's fourth-largest electric company.

Jousting over Hidrocantabrico has been going on for at least three years, since Texas Utilities bought a 5 percent stake in the utility in 1998 "to share knowledge and ideas." One of those ideas turned out to be an acquisition of the rest of the Spanish company. That effort foundered in March of 2000.

Acquisition of Hidrocantabrico is complicated by the company's by-laws, which allow no shareholder more than 10 percent of board votes no matter how large a proportion of common stock is owned. Electricidade de Portugal and Cajastur between them hold a majority of Hidrocantabrico's voting rights, despite controlling just 35 per cent of its shares.

Electricidade de Portugal's rival, Energie Baden-Wurttemberg, a German utility which acquired 60 per cent of Hidrocantabrico last year in association with a Spanish partner, is limited to 10 percent of the board vote and now says it is prepared to accept the Portuguese utility's dominant position.

In exchange for accepting the inevitable, Energie Baden-Wurttemberg says it want to play an active part in Hidrocantabrico management.

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