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Meta Announces Up to 6.6 GW of Nuclear Projects to Power American AI

LCG, January 9, 2026--Meta today announced new, landmark agreements that will (i) extend and expand the operation of three existing nuclear power plants and (ii) drive the development of advanced nuclear technology. Meta's new agreements with Vistra, TerraPower, and Oklo follow Meta's request for proposals (RFP) issued last month. Meta expects these projects to deliver up to 6.6 GW of new and existing clean nuclear energy by 2035.

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Babcock & Wilcox Selects Siemens Energy to Supply Steam Turbine Generator Sets for Massive Applied Digital Data Center Power Project

LCG, January 8, 2026--Babcock & Wilcox (B&W) announced today that it has selected Siemens Energy to provide steam turbine generator sets for B&W’s groundbreaking project to install and deliver one GW of power for an Applied Digital AI Factory. B&W and Siemens have entered into an agreement for a limited notice to proceed to secure the turbine sets, which will enable B&W to deliver power for the project by the end of 2028. The estimated cost of the project is approximately $2 billion. The full contract release is expected in the first quarter of 2026.

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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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