GE Vernova ( NYSE: GEV ) closed +4.8% on Wednesday The following news outlines plans to install seven wind turbines capable of generating almost 4.5 gigawatts of power. This initiative aims to convert the Homer City Generating Station in Pennsylvania from a coal-fired facility into a natural gas-powered data center complex, with operations scheduled to start in 2027.
Upon completion, the Homer City facility will become the biggest natural gas-powered plant in the country, exceeding NextEra Energy's West County Energy Center in Florida, with a capacity close to 3.8 gigawatts, as per information provided by the U.S. Energy Information Administration.
In a release According to Homer City Redevelopment, which is overseeing the initiative, construction is anticipated to start this year, with GE Vernova being involved. NYSE: GEV They will provide the turbines by 2026.
The demolition of the coal plant began last month as Homer City Redevelopment imploded the cooling towers and three out of four of the facility's stacks, with the rest of the plant expected to come down over the next couple of weeks.
The project is expected to cost more than $10B, without including the costs necessary for building the AI data centers expected to be built on the same campus.
Separately, GE Vernova ( GEV ) won a new Positive rating at Susquehanna, which said the company is well positioned to benefit from global growth in power demand.
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