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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

CA Commission Submits its PG&E Bankruptcy Plan

LCG, April 16, 2002-The California Public Utilities Commission filed its plan for PG&E's emergence from bankruptcy.

The Commission and Pacific Gas & Electric Utility both have ideas about how to erase the $13.5 billion debt that the utility shoulders. According to the U.S. Bankruptcy Court in San Francisco, the utility's creditors will get to vote on which proposal should be implemented.

The plan submitted by the Commission calls for payment of creditors, including interest, as well as the re-establishment of an investment-grade credit rating by 2003. The plan includes withholding dividends from shareholders until the end of January next year. The utility would also be required to sell some of its common stock to resolve some thirteen percent of its debt.

The unpaid dividends may result in "substantial litigation," according to PG&E, and the utility fears that the sale of stock and the suspension of dividends will be detrimental to employees and retirees who own a lot of stock in the utility.

Additionally, the Commission's plan provides for no increase in electricity rates, and PG&E must continue to abide by state regulations. PG&E Corporation, PG&E utility's parent company, will also be partially responsible, monetarily speaking, for getting PG&E utility out of debt.

PG&E's rival plan, submitted earlier, suggests breaking the utility into four companies, three of which would fall outside of state regulation and therefore out of the influence of the Public Utilities Commission.

May 3rd is the deadline for all objections regarding the Commission's plan, and Bankruptcy Judge Dennis Montali has suggested the 17th of June for the commencement of voting by creditors.

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