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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

Madison Gas and Electric To Form Holding Company

LCG, Nov. 5, 2001--Madison Gas & Electric Co. said Friday it has filed a registration statement with the Securities and Exchange Commission regarding its proposal to create a holding company named MGE Energy, Inc.

MG&E said it is planning to build and own new power plants to meet growing customer needs and forming a holding company expands the company's options for financing this new generation. "The holding company structure gives us more financing flexibility for each new project we undertake" said Jeff Newman, MG&E vice president and treasurer.

The company stressed that it had no intention of pursuing global initiatives irrelevant to its Wisconsin customers. "MG&E will continue its focus on the utility business in our local communities," said Gary Wolter, president and chief executive. "We are a community energy company and will remain one. The holding company will only increase our ability to serve our customers and shareholders well."

Among the projects that prompted plans for the new holding company is a cogeneration project to provide steam and chilled water for the University of Wisconsin-Madison and electricity for householders in MG&E's service territory. The company said the holding company structure facilitates the construction and financing of this project.

Under the holding company proposal, shares of MG&E common stock would be exchanged on a one-for-one basis for shares of MGE Energy, Inc. Company shareholders will vote on the holding company proposal at their annual meeting next May. All other approvals are expected to be completed by summer 2002.

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