DIRS.INFO The most relevant business & tech news

☆ Crypto and AI data centers are driving up energy consumption forecast: ClearView Energy’s Tim Fox
▼ + stars: | 2024-03-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCrypto and AI data centers are driving up energy consumption forecast: ClearView Energy’s Tim FoxTimothy Fox, ClearView Energy Partners managing director, joins 'Squawk Box' to discuss the impact of crypto mining and AI surge on the U.S. energy grid, what it means for the power sector at large, and more.

Persons: Tim Fox Timothy Fox Organizations: ClearView Energy Partners

WASHINGTON (AP) — A project to build a first-of-a-kind small modular nuclear reactor power plant was terminated Wednesday, another blow to the Biden administration's clean energy agenda following cancellations last week of two major offshore wind projects. Oregon-based NuScale Power has the only small modular nuclear reactor design certified for use in the United States. “We absolutely need advanced nuclear energy technology to meet (the Biden administration’s) ambitious clean energy goals,'' spokeswoman Charisma Troiano said. In 2020, the Trump administration approved up to $1.4 billion for the project, known as the Carbon Free Power Project. Most prospective subscribers were unwilling to take on the risks associated with developing a first-of-a-kind nuclear project, the Utah group said.

Persons: Joe Biden's, Biden, Charisma Troiano, “, Timothy Fox, Fox, Trump, Obama, John Hopkins, NuScale, Ken Cook, ” Cook, ___ McDermott Organizations: WASHINGTON, Biden, Idaho National Laboratory, Energy Department, DOE, ClearView Energy Partners, The Energy Department, Energy Department's, Energy Department's Idaho National Laboratory, Carbon, Power, Congress, Utah Associated Municipal Power Systems, Nuclear Energy Institute, Environmental, U.S . Nuclear Regulatory Commission, AP Locations: Oregon, United States, Utah, Idaho, New Jersey, U.S, Washington, Idaho Falls , Idaho, Energy Department's Idaho, California, Providence , Rhode Island

In total, the cancellations equate to nearly one-fifth of President Joe Biden’s goal of 30 gigawatts of offshore wind power by 2030. Despite the setbacks, offshore wind continues to move forward, the White House said, citing recent investments by New York state and approval by the Interior Department of the nation’s largest planned offshore wind farm in Virginia. Hardy spoke at the American Clean Power industry group’s offshore wind conference in Boston last month on a panel with Morris. Phil Murphy, has established increasingly stringent clean energy goals, moving from 100% clean energy by 2050 to 100% by 2035. “Offshore wind is a lot bigger than Ørsted.”The first U.S. commercial-scale offshore wind farms are currently under construction: Vineyard Wind off Massachusetts and South Fork Wind off Rhode Island and New York.

Persons: jeopardizing, Ørsted, Joe Biden’s, Biden, Timothy Fox, “, Molly Morris, David Hardy, Hardy, Morris, “ We’re, ”, Walt Musial, Musial, Conor Bambrick, Phil Murphy, Murphy, Catherine Klinger, Catherine Bowes, ″ Bowes, Michael Brown, ” ___ McDermott Organizations: WASHINGTON, Biden, Interior Department, Interior’s Bureau of Ocean Energy Management, Industry, ClearView Energy Partners, Ørsted, American Clean, National Renewable Energy Laboratory, Energy Department, P, Environmental, ., Democratic Gov, New, U.S, Offshore, Ocean, ___, AP Locations: New Jersey, U.S, Danish, New England, Massachusetts, Connecticut, New York, Virginia, Interior’s, Gulf of Mexico, East Coast, Washington, Norwegian, Jersey, United States, Boston, Europe, Virginia Beach, Rhode Island, . New Jersey, Rhode, North America, Providence , Rhode Island, Hill, Albany , New York, Catalini, Trenton , New Jersey

The world's biggest offshore wind farm company on Tuesday said it would cease all development on the Ocean Wind projects even as it moves forward with developments off neighboring New York, triggering an angry response from New Jersey Governor Phil Murphy. "People did not anticipate (Orsted) backing out of Ocean Wind," said Timothy Fox, VP at research firm ClearView Energy Partners. Nipper told analysts that unlike Ocean Wind, Orsted is still pursuing Sunrise for several reasons, including the fact that the company has already lined up a vessel to build it. Under the most accelerated proposal, the New York State Energy Research & Development Authority said it could release the next offshore wind request for proposals in late November or early December. The Ocean Wind cancellation was the latest setback for the nascent U.S. offshore wind industry in recent months, which U.S. President Joe Biden and several states have counted on to fight global warming.

Persons: Phil Murphy, Timothy Fox, Mads Nipper, Nipper, Orsted, Joe Biden, Murphy, Scott DiSavino, Jarrett Renshaw, Nichola Groom, Bill Berkrot Organizations: ClearView Energy Partners, Sunrise, New York State Energy Research, Development Authority, Analysts, BP, U.S, Thomson Locations: New Jersey, New York, U.S, Massachusetts, Connecticut, Culver City , California

Search resuls for: "Timothy Fox"

4 mentions found