Transforming old power plants in Europe - The plants will be converted into data centers for "AI"
Some of Europe's aging coal and gas power plants will have a "technological" future, as sector giants such as Microsoft and Amazon seek to repurpose them as data centers.
Companies such as France's Engie, Germany's RWE, and Italy's Enel are looking to capitalize on a surge in energy demand driven by artificial intelligence by converting old power stations into data centers. This would secure lucrative long-term energy supply agreements with their operators.
This opportunity offers utilities a way to offset the high costs of decommissioning old power plants, as well as potentially securing future renewable energy developments.
Tech firms see these stations as a quick way to secure connections to the power grid and water cooling plants, two major bottlenecks in the AI industry. "It's all the pieces together, the water infrastructure and the heat recovery," sector experts explain.
Utility companies can lease the land or build and operate the centers themselves, securing long-term energy contracts with technology firms. The deals offer much more than just the sale of unused land, as they include opportunities for stable, high-margin revenue.
The majority of the EU and UK's 153 coal and lignite power plants will be closed by 2038 to meet climate targets, joining the 190 power plants that have stopped operating since 2005.
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