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Dominion preparing to power 15 more data centers in 2024

Dominion Energy expects to service 15 more information centers through completion of 2024 as the utility gets bigger power requests from computer warehouse developers, executives stated on Thursday.

Rule's service territory consists of northern Virginia, that includes a cluster of counties that hold the world's. largest concentration of data centers.

The method data centers are ramping up is much faster than they. have in the past and their demands are bigger than they've been. in the past, Dominion CEO Robert Blue said, adding that his business. has actually linked 94 gigawatts of information center capacity in the past. five years.

Information centers are computer system warehouses, which are. progressively utilized for generative artificial intelligence, that. consume large amounts of electricity for their high-intensity. computing and cooling systems.

After traditionally requesting electrical power capacity demand of. about 30 megawatts (MW), data center designers are now. requesting two to three times that amount, Rule executives. stated on a call following very first quarter profits.

Projects with multiple data centers can need numerous. gigawatts of capacity. A single gigawatt can power about 750,000. homes.

Information centers used to normally take four to 5 years to. increase to the full capability they had contracted for with. Rule, Chief Operating Officer Diane Leopold said. Presently,. full capability might be reached in closer to two or 3 years,. she stated.

Information centers, which are driving U.S. electrical power. consumption out of an approximately two-decade lull, have actually just recently come. under examination for their

voracious energy appetite

.

The proliferation of the centers has threatened to. destabilize power grids and result in the extended usage of. carbon-emitting source of power like coal and natural gas, which. can supply 24/7 power in the method renewable sources. like wind and solar can not.

In its renewable resource plans, Dominion said it is moving. forward with its Virginia offshore windfarm on time and on. spending plan despite a recent claim over environmental issues,. including the risk the task might have to whales and other. marine wildlife.

The roughly 2,600-MW

offshore wind advancement

is 28% total and recently received its 11th and last. federal permit, executives said. Building and construction on the in-water. and onshore part of the task is ongoing, with the. setup of monopiles expected to begin next week.

The business reported an undesirable weather impact of 6. cents per share on its utility earnings for the first quarter. It also said its interest and associated charges increased nearly 20% to. $ 574 million in the quarter, from $479 million a year previously.

Rates of interest in the U.S. have been at multi-decade highs. considering that hikes started in 2023, leading to a greater cost of. borrowing.

Dominion, which has about 6 million customers in 15 states,. reported a net income of $674 million, or 78 cents per share,. from $981 million, or $1.15 per share in the first quarter a. year previously.

Its operating revenue likewise fell to $3.63 billion, compared. with $3.88 billion a year previously.

The Richmond, Virginia-based business declared its 2024. operating profits per share forecast in the series of $2.62 to. $ 2.87.

(source: Reuters)