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☆ Wall Street warms to nuclear power as banks including Goldman Sachs reportedly back new push
▼ + stars: | 2024-09-23 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

Read previewBig Tech is getting excited about nuclear power — and now Wall Street wants a piece of the action. However, their involvement could be crucial in helping meet the emissions target laid out in last year's COP28 climate conference and revive the nuclear energy sector. AdvertisementThat might soon change, and it's not just Wall Street getting more interested in nuclear power. Meanwhile, TerraPower, a company cofounded by Bill Gates, is planning a new nuclear power plant in Wyoming. AdvertisementGoldman Sachs, Morgan Stanley, Bank of America, Barclays, BNP Paribas, did not immediately respond to requests for comment from Business Insider, sent outside normal working hours.

Persons: —, Goldman Sachs, Morgan Stanley, Nuclear's, it's, OpenAI, Larry Ellison, We've, they've, Bill Gates Organizations: Service, Tech, Bank of America, Financial Times, Business, Citi, Barclays, BNP, US, Nuclear, Big Tech, Microsoft, ChatGPT, Oracle, Royce Locations: New York, Wyoming

☆ Electricity demand from data centers, AI and crypto could double in 2 years. How to play it
▼ + stars: | 2024-02-06 | by ( Pia Singh | ) www.cnbc.com time to read: +5 min

The firm pointed to recent data from the International Energy Agency, which forecasted that electricity consumption from data centers, artificial intelligence and the cryptocurrency sector could double by 2026. "The latest IEA electricity forecasts paint an even more alarming outlook for data center consumption," analyst Hiral Patel wrote in a Monday note. Barclays said it is looking at three investment areas that are a key part of the trend: data center operators, data center suppliers and data center grid infrastructure builders. After successfully using lithium-ion batteries at a Dublin data center , Microsoft wants to expand grid-interactive battery storage in other areas. That includes nine data centers in Ireland, which is a data center hotspot in Europe that's also under increased risk given its soaring electricity consumption, Barclays said.

Persons: Hiral Patel, Morgan Stanley's, Europe that's, Stifel Nicolaus, Eaton Organizations: Barclays, International Energy Agency, CNBC, Microsoft, Electricity, Constellation, Digital Realty Trust, Digital, European Union, Blackstone, Digital Realty, Devices, AMD, Tech Locations: Japan, U.S, Dublin, Ireland, Europe, European, Frankfurt, Paris, Virginia

"There cannot be any pressure on India to cut down emissions," India's power and renewable energy minister R.K. Singh said on Nov. 30. ASIAN EMISSIONS RISETo be sure, fast-growing Asia, home to half the world's population, accounts for three-fifths of global emissions from power generation, including from sectors exporting goods and services to the west. Despite challenges, Asia, along with Europe and North America, have cut the share of coal in power use, although at a slower pace. Cuts in nuclear power have slowed Europe and North America's fight to reduce emissions, although nuclear's share of their power mix remains well above Asia's. The share of gas in power generation has risen in the West, with the fuel accounting for a shrinking share in Asia.

Persons: Tingshu Wang, R.K, Singh, Hogeveen Rutter, Rutter, ISA's Rutter, Sudarshan Varadhan, Tony Munroe, Sonali Paul Organizations: Huawei, REUTERS, U.S, European Union, North America, International Solar Alliance, Reuters, WEST, North, Institute for Energy Economics, Thomson Locations: Shaanxi, China, Asia, SINGAPORE, America, Europe, India, North America, Paris, North, North America Asia, West Asia, West, Indonesia

☆ Nuclear's uncertain role in the shift away from fossil fuels is seen as critical and very contentious
▼ + stars: | 2023-11-27 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +4 min

It's set to be a hot topic at the COP28 summit in Dubai, which begins this week. There are reports that there will be a concerted effort to get behind a big increase in nuclear capacity from now to 2050. "As more nations understand the role nuclear can play in achieving energy security and decarbonisation targets, global support for nuclear energy is growing," he added. "The phase-out of nuclear power makes our country safer; ultimately, the risks of nuclear power are uncontrollable," Steffi Lemke, Germany's federal minister for the environment and nuclear safety, said in April. France, a major player in nuclear power, is also planning to increase its number of reactors.

Persons: Janos Kummer, Atoms4NetZero, Rafael Mariano Grossi, Friedrich Merz, CNBC's Annette Weisbach, Merz —, Chancellor Olaf Scholz —, Steffi Lemke Organizations: Getty, International Atomic Energy Agency, CNBC, World Nuclear Association, IAEA, Christian Democratic Union, Greenpeace, Germany —, — Locations: Slovakia, Dubai, United Arab Emirates, COP28, Germany, Sweden, France

The debate - which focuses on hydrogen produced from nuclear or renewable energy - has already delayed negotiations on new EU renewable energy targets and threatened a multi-billion-euro hydrogen pipeline. Some EU officials fear it could spill into other green energy policies, potentially delaying laws needed to meet EU climate targets. "There are outstanding obstacles, but they will be resolved," EU foreign policy chief Josep Borrell said of the climate conclusions on Monday, without specifying what the obstacles were. A draft of the conclusions, seen by Reuters, said: "EU energy diplomacy will promote the increasing uptake and system integration of renewable energy, hydrogen and its derivatives." They says they acknowledge nuclear's low-carbon contribution, but that it should not be put on a level footing with renewable energy sources like wind and solar.

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