Environment

Nuclear power will get the most Energy Department loans, Chris Wright says

Published

4 hours ago

November 10, 2025

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Cooling towers at the Three Mile Island nuclear power plant in Middletown, Pennsylvania, Oct. 30, 2024.

Danielle DeVries | CNBC

Nuclear power will receive most of the money from the Energy Department’s loan office as the Trump administration pushes to quickly break ground on new reactors, Secretary Chris Wright said on Monday.

“We have significant lending authority at the loan program office,” the Secretary of Energy said at a conference hosted by the American Nuclear Society in Washington D.C. “By far the biggest use of those dollars will be for nuclear power plants — to get those first plants built.”

President Trump signed an executive order in May that called for the U.S. to break ground on 10 large nuclear reactors by 2030. Alphabet, Amazon, Meta Platforms and Microsoft are investing billions of dollars to restart old nuclear plants, upgrade existing ones, and deploy new reactor technology to meet the electricity demand from artificial intelligence data centers.

Wright said he expects electricity demand from AI to attract billions of dollars in equity capital to build new nuclear capacity from “very creditworthy providers.” The Energy Department could match those private dollars by as much as four to one with low cost debt financing from the loan office, he said.

“When we leave office three years and three months from now, I want to see hopefully dozens of nuclear plants under construction,” Wright said.

Westinghouse deal

The Trump administration struck a deal last month with the owners of Westinghouse to invest $80 billion to build nuclear plants across the U.S. Westinghouse is owned by uranium miner Cameco and Brookfield Asset Management.

Westinghouse has designed a modern reactor called the AP1000 that can power more than 750,000 homes. CEO Dan Sumner said in July that Westinghouse would meet Trump’s call to build large new plants with the AP1000 design.

Cameco Chief Operating Officer Grant Isaac said last week that the U.S. government has a number of options available to facilitate the financing of Westinghouse reactors, including the Energy Department’s loan office.

“We’re assured that there is a lot of interest in investing this minimum $80 billion in order to begin the process,” Isaac told investors on Cameco’s third-quarter earnings call.

Under the terms of the October deal, Westinghouse could spin out as a separate, publicly-traded company with the U.S. government as a shareholder.

But Westinghouse has struggled in the past to build the AP1000 on time and on budget. It went bankrupt in 2017 from cost overruns at big nuclear projects in Georgia and South Carolina.

Two AP1000 reactors entered service at Plant Vogtle in Georgia in 2023 and 2024, years behind schedule and billions of dollars over budget. The South Carolina project was cancelled.

Environment

Democratic senators blame White House, AI data centers for rising electricity prices

Published

38 mins ago

November 10, 2025

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Democratic senators blame White House, AI data centers for rising electricity prices

Sen. Richard Blumenthal (D-CT) speaks to reporters outside the Senate Chamber of the U.S. Capitol Building on Oct. 1, 2025 in Washington, DC.

Andrew Harnik | Getty Images

Democratic senators on Monday blamed the White House push to fast track artificial intelligence data centers and its attacks on renewable energy for rising electricity prices in certain parts of the U.S.

Sen. Richard Blumenthal of Connecticut, Sen. Bernie Sanders of Vermont and others demanded that the White House and Commerce Department detail what actions they have taken to shield consumers from the impact of massive data centers in a letter sent Monday.

Voters are increasingly feeling the pinch of rising electricity prices. Democrats Mikie Sherrill and Abigail Spanberger campaigned on the issue in the New Jersey and Virgina governors’ races, which they won in landslides last week.

The senators took aim at the White House’s relationship with companies like Meta, Alphabet, Oracle, and OpenAI, and the support the administration has shown for the companies’ data center plans.

The Trump administration “has already failed to prevent those new data centers from driving up electricity prices from a surge of new commercial demand,” the senators wrote. They accused the White House of making the problem worse by opposing the expansion of solar and wind power.

The White House blamed the Biden administration and its renewable energy policies for driving up electricity prices in a statement.

President Donald Trump “declared an energy emergency to reverse four years of Biden’s disastrous policies, accelerate large-scale grid infrastructure projects, and expedite the expansion of coal, natural gas, and nuclear power generation,” White House spokeswoman Taylor Rogers said.

The tech sector’s AI plans have ballooned in size. OpenAI and Nvidia, for example, struck a deal in September to build 10 gigawatts of data centers to train and run AI applications. This is equivalent to New York City’s peak baseline summer demand in 2024.

The scale of these plans have raised questions about whether enough power is available to meet the demand and who will pay for the new generation that is needed. Renewable energy, particularly solar and energy storage, is the power source that can be deployed the quickest right now to meet demand.

Retail electricity prices in the U.S. increased about 6% on average through August 2025 compared with the same period in 2024, according to the Energy Information Administration. Prices, however, can vary widely by region.

Download the full letter here.

Environment

Europe’s largest battery storage project is being built in Germany

Published

47 mins ago

November 10, 2025

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Europe's largest battery storage project is being built in Germany

Europe largest battery storage — Image: Fluence

Germany is about to become home to Europe’s largest battery storage system – a massive 1 gigawatt (GW) / 4 gigawatt-hour (GWh) project in Jänschwalde, Brandenburg.

LEAG Clean Power GmbH and Fluence Energy GmbH, a subsidiary of US-based Fluence Energy (NASDAQ: FLNC), are teaming up to build the “GigaBattery Jänschwalde 1000.” The four-hour system will use Fluence’s Smartstack technology, its latest large-scale energy storage solution.

Once complete, Europe’s largest battery storage project will play a key role in stabilizing Germany’s grid and storing renewable power for when the sun isn’t shining and the wind isn’t blowing. It’s designed to deliver essential grid services, support energy trading, and boost energy security as the country phases out fossil fuels.

LEAG’s broader “GigawattFactory” plan combines solar and wind farms with flexible power plants and large-scale batteries across Germany’s Lusatian energy region. “By constructing gigascale storage facilities, we’re addressing one of the biggest challenges of the energy transition: ensuring constant power regardless of the availability of renewable energies,” said Adi Roesch, CEO of the LEAG Group.

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Fluence CEO Julian Nebreda described the project as a “milestone for the energy future of Germany and Europe,” adding that it demonstrates how collaboration and cutting-edge technology can “transform the foundation of our economy and our everyday lives.”

The German government recently reaffirmed the importance of storage in building a secure and affordable clean power system. With this 4 GWh giant, LEAG and Fluence are implementing that priority in one of Europe’s most coal-heavy regions.

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Environment

The Genesis GV90 is shaping up to be a real stunner [Video]

Published

2 hours ago

November 10, 2025

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The Genesis GV90 is shaping up to be a real stunner [Video]

The GV90 will be the brand’s largest, most luxurious SUV yet. With its official debut coming up, a production version of the Genesis GV90 was spotted in public for the first time, offering a closer look at the stunning SUV.

The Genesis GV90 is a stunning flagship SUV

Genesis vehicles already have a unique design that’s hard to miss. The big Creste Grille, Two-Line Quad Lamps, and smooth character lines offer a refined, luxurious look, but Genesis is planning to take it to the next level with the GV90.

The GV90 is an “ultra-luxe, state-of-the-art SUV,” according to Genesis. It will be the luxury brand’s new flagship vehicle and first full-size electric SUV.

We got our first look at the flagship SUV last March after Genesis unveiled the Neolun concept at the New York Auto Show.

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The GV90 has been spotted out in public several times now, even flashing high-end features like coach doors and adaptive air suspension, but now, we are finally getting our first look at the production version in real life.

A new video from HealerTV shows the production version of the Genesis GV90 in action. Although it’s still covered in camo, you can see a few slight design changes from the concept shown last year.

The headlights and grille appear closer in design to its current vehicles, but other than that, the GV90 looks essentially the same up front as the Neolun concept.

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Since it’s still covered, it’s hard to see where the headlights are connected at this point. From the side and rear, the GV90 looks identical to the concept.

Genesis has yet to announce an official launch date, but the GV90 could debut by the end of the year with sales expected to kick off in mid-2026.

Genesis-GV90-coach-doors — Genesis Neolum electric SUV concept interior (Source: Hyundai Motor)

The flagship SUV is rumoured to be the first vehicle to debut on Hyundai’s new eM platform, which it claims will “provide 50% improvement in driving range” compared to its current EVs. It will also serve as a tech beacon, featuring Hyundai’s most advanced connectivity and safety tech.

We will learn official prices and final specs soon, but one thing is for sure: it won’t be cheap. The Genesis GV90 is expected to start at around $100,000, but higher trims could cost significantly more with added features and options.

Genesis is also introducing its first hybrid, the GV80, next year, followed by its first extended-range electric vehicle (EREV) based on the GV70. The EREV is expected to launch in late 2026 or early 2027. There’s also an off-road SUV in the works, which will likely arrive as a 2027 model.

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