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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

Mexican Firm Gets California Power Contract

LCG, Dec. 11, 2001--The California Department of Water Resources said yesterday it had signed a long-term power contract with Intercom Energy, a Mexican company that is planning to build a power plant in the northern part of the state.

Oscar Hidalgo, a spokesman for the water agency, said "They are looking to actually put steel in the ground in northern California. We are obviously intrigued by that because of the need for peak time energy in northern California."

The contract with Intercom is for 200 megawatts for two years at an average price of $45 per megawatt-hour. That price compares very favorably with about $43 billion in long term contracts negotiated last spring at an average of about $69 per megawatt-hour.

But those earlier contracts were negotiated when the state thought it was facing years of rolling blackouts because of an insuffiency of supply and soaring prices on the volatile wholesale electricity spot market.

The commissioning of new power plants is taking care of the supply problem and prices on the spot market are currently about $25 per megawatt-hour.

The state has been attempting without much success to get power producers to renegotiate those earlier contracts but Hidalgo said that the Bonneville Power Administration, the federal utility based in Portland, Ore., had agreed to reduce to price of power on an 18 megawatt contract that runs through the end of next year from $55 per megawatt-hour to $29 per megawatt-hour.

Hidalgo noted that the Bonneville contract, unlike those with independent power producers, had a clause permitting termination without giving any reason.

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