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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

Water Authority to Bid for Nevada Power

LCG, Aug. 23, 2002--Nevada Power, which has seen its credit rating fall into junk territory after its last rate case was rejected, has said it received a letter from the Southern Nevada Water Authority (SNWA) indicating an offer to buy the power utility is forthcoming.

The Southern Nevada Water Authority has a high-quality credit rating, and has engaged Morgan Stanley & Co. to assist in developing a planned $1.2 billion bid. SNWA says that not only would it be able to refinance $2 billion of the power utility's debt, but that it could lower rates for power customers by 20 percent. About half of the recent $922 million rate increase that was sought by Nevada Power was granted, while the rest was declared to have been incurred imprudently. Much of Nevada Power's debt resulted when it bought expensive power on the spot market in 2001.

The SNWA serves nearly the same customers as Nevada Power. "If they can solve this and provide a huge reduction in rates to the customers, then the governor's going to be doing cartwheels," Ronald Tanner, an analyst with Legg Mason, told Reuters.
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