Market Chatter: Venture Global to Build On-Site Power Plants for Data Centers

MT Newswires Live17:48

Venture Global (VG) plans to develop gas-fired power plants to supply electricity to data centers, seeking to capitalize on rising power demand driven by artificial intelligence, The Wall Street Journal reported Thursday.

Venture Global has agreements with GE Vernova (GEV) and Baker Hughes (BKR) Energy Services to source equipment, including turbines and transformers, for on-site power generation, the report said.

The projects could support up to 10 gigawatts of computing capacity at Venture Global-owned or controlled sites, with power generation potentially starting in late 2028 or early 2029.

Venture Global expects to order equipment for the first phase by year-end. The off-grid facilities are intended to help data center developers address delays in connecting to the power grid, the report added.

Venture Global, GE Vernova and Baker Hughes did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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