$20 Billion Energy Shockwave: Nuclear Revival, AI Grids & EV Takeover!

A potential nuclear revival emerges as Santee Cooper selects top contenders from fourteen proposals to complete the abandoned V.C. Summer nuclear reactors in South Carolina. After $9 billion spent and construction halted in 2017, the site remains in "mostly excellent condition" according to recent inspections, breathing new life into nuclear energy's prospects. Meanwhile, Constellation Energy eyes new nuclear development in upstate New York, capitalizing on Governor Hochul's directive for at least one gigawatt of new nuclear power in the state.

The battle over critical energy infrastructure intensifies with the $11 billion Grain Belt Express transmission project caught in political crossfire. Missouri Senator Josh Hawley claims to have secured commitments to halt the project, while developer Invenergy pushes back against what they call "unfounded noise" threatening America's ability to build necessary energy infrastructure. This 4,000-megawatt project would transport renewable energy across four Midwestern states, highlighting the tension between clean energy goals and political opposition.

Innovation continues reshaping grid operations as California's CAISO pilots AI technology for outage management, potentially automating critical grid decisions. Google invests over $3 billion in hydroelectric power to achieve 24/7 carbon-free energy for its data centers, while nine governors from PJM states warn of an "unprecedented crisis of confidence" in the regional grid operator over electricity costs and reliability concerns. As Chinese company Envision Energy begins constructing what aims to be the world's largest green hydrogen plant and Uber invests $300 million in electric and autonomous vehicles, the energy landscape continues its dramatic transformation across multiple sectors.

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Chapters

• 0:00 Nuclear Projects in South Carolina
• 1:08 Constellation Energy's NY Nuclear Plans
• 1:28 Grain Belt Express Transmission Battle
• 2:35 Power Purchases and Grid Management
• 4:29 PJM Crisis and Green Energy News
• 6:07 Uber's EV and Autonomous Vehicle Investments

Transcript

Speaker 1: 0:00

I've got your energy stories for this. The fourth week of July 2025. And in the first one, santee Cooper, south Carolina state-owned utility and owner of the abandoned till now VC Summer 2 and 3 nuclear units, recently released a request for interest for those interested in potentially acquiring and finished building the project. Of 14 proposals received, santee Cooper selected quote fewer than five unquote. The next step is for designated parties to conduct additional due diligence and submit final proposals to resume construction on the two 1,100 megawatt AP1000 pressurized water reactors. The utility expects the selection process to be completed by the end of this summer. The end of this summer. Construction of Units 2 and 3 was canceled in 2017 due largely to cost overruns and the bankruptcy of Westinghouse, the primary contractor. By that point, over $9 billion had already gone out the door, with Unit 2 nearly 48% built and Unit 3 with significantly less work. A September 2024 inspection by the South Carolina Nuclear Advisory Council characterized the site as being in mostly excellent condition. Well, constellation Energy's CEO says it plans to develop an upstate New York nuclear project. Constellation already owns and operates three facilities in New York and last month New York Governor Kathy Hochul announced it would direct the New York Power Authority to develop at least one gigawatt of new nuclear power in the state.

Speaker 1: 1:28

Invenergy, developer of the $11 billion 4,000 megawatt Grain Belt Express transmission project, sent a letter to the Department of Energy requesting it to proceed with a 2024 $4.9 billion conditional loan guarantee that came from the Biden administration. Missouri Senator Josh Hawley said last week that he had quote secured a pledge unquote from DOE Secretary Chris Wright to halt the project that would move wind and solar energy across four states in the Midwest. The publicly shared letter characterized US Senator Josh Hawley and Missouri Attorney General Andrew Bailey as quote declaring open season on America's ability to build needed energy infrastructure. Unquote. It asked the DOE Secretary to put this unfounded noise aside and affirm a commitment to the Grain Build Express to reach closing following the fulfillment of conditions negotiated in our conditional commitment. Well, south Texas Electric Cooperative, STEC, issued a request for proposals for up to 500 megawatts of firm dispatchable capacity and energy for terms for 20 to 30 years in the ERCOT region. Stec says it's open to all dispatchable generation technologies and fuel types as long as the project is currently operating or expected to be commissioned by December 1st of 2028. Operating or expected to be commissioned by December 1st of 2028. Stec provides wholesale power to nine Texas distribution co-ops across 47 South Texas counties. The deadline to submit a notice of intent to respond for the RFP is August 6th. So get going.

Speaker 1: 3:00

Google said it will spend over $3 billion for power to supply its data centers for over 20 years from two hydroelectric projects owned by Brookfield Asset Management. These two plants total 670 megawatts of capacity and the contracts are the first in a larger agreement that may include up to 3,000 megawatts in PGM and MISO. The hydro will also help firm up other variable renewable assets, such as wind and solar, to help Google meet its goal of 24 by 7 carbon-free energy for its data centers. California's grid operator Kaiso is planning to use AI to manage outages with a pilot program utilizing OATI's software called Genie. Genie will analyze and carry out real-time analyses with the potential to autonomously make decisions affecting critical functions on the grid. In today's world, engineers manually review outage reports for planned or ongoing maintenance and then use the current software system to calculate how downed lines or failed transformers might impact power supplies. If using Genie yields more efficient and reliable analyses than the current process, kiso may automate additional functions. Also, in ISO RTO news, the Southwest Power Pool plans to cut interconnection study timelines for large loads to just 90 days, as long as the end users either cut demand or use backup generation to help the grid during periods of stress. This approach still must be approved by SPP's board and federal regulators.

Speaker 1: 4:31

And also in ISO RTO news. Nine governors from states in the Mid-Atlantic PGM region just penned a letter to the grid operator stating their concerns about electricity costs and reliability. Stating the PGM quote faces an unprecedented crisis of confidence from market participants, consumers and the states. Unquote. The letter further noted that discussions of leaving PGM are becoming increasingly common and called upon the grid operator to make changes. Commenting that quote fundamental challenges and new leadership are needed to restore confidence in PGM's ability to meet the many challenges of this moment. Unquote.

Speaker 1: 5:09

This letter comes at a critical time. Last year's base residual auction for delivery year 2025-26 capacity cleared at nosebleed high numbers at over $269 per megawatt day. Results for the 2026-27 delivery year will come out this week. If they come out high, expect the pressure to grow. In other news, chinese company Envision Energy last week officially cut the ribbon on a 500 megawatt 320,000 ton per year first phase of its planned 2,500 megawatt green hydrogen and ammonia plant, which would make it the largest in the world. Envision, known best for its wind turbine manufacturing experience, will supply the entire facility with off-grid renewable resources. And finally, uber announced it will invest $300 million in US electric vehicle maker Lucid and purchase at least 20,000 autonomous vehicles equipped with self-driving technology from autonomous vehicle software company Nuro. Uber will also make a multi-hundred million dollar investment in Nuro. Two months ago, uber claimed to have grown to an annual capability of 1.5 million autonomous rides or delivery trips. Well, thanks for watching and we'll see you again soon.