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Yahoo
7 hours ago
- Business
- Yahoo
Meta buys a nuclear power plant (more or less)
Meta announced Tuesday morning that it was paying billions of dollars to keep an Illinois nuclear power plant running through 2047. The social media company will buy all the 'clean energy attributes' of Constellation Energy's Clinton Clean Energy Center, a 1.1 gigawatt nuclear power plant in central Illinois, starting in June 2027. Electricity will still flow to the local grid, so Meta's purchase won't directly power one of its data centers, though the company does have one about two hours north of Clinton in DeKalb. Rather, the deal is a bit of carbon accounting to lower the company's overall climate impact. It doesn't reduce emissions on the grid, but prevents them from potentially increasing. Neither company disclosed exact financial terms, but the multibillion-dollar deal will help Constellation relicense the plant and guarantee a customer for the duration of that license extension. Big Tech companies — Meta included — have recently become vocal backers of the fission industry. Before the recent boom in data center construction, nuclear reactors had faced a grim future as cheap wind, solar, and natural gas undercut their power-generating costs. But the surge in AI and cloud computing has sent tech companies searching for power, which in turn has led to a string of investments in nuclear startups. Meta and Constellation have alluded to the deal as a way to save the nuclear power plant from shutdown, though neither said it was at imminent risk of closure. The power provider initially planned to shut down the Clinton reactor in June 2017 as it faced stiff competition from cheap natural gas, but Illinois legislators stepped in with subsidies that encouraged Constellation to keep the lights on. Those subsidies are set to expire in 2027, and Constellation says the Meta deal will help prevent the closure. But since 2017, Constellation has not threatened to shut down the Clinton power plant. Instead, in 2022, the company said it would apply to extend the reactor's operating license through 2047. TechCrunch has asked Constellation about its plans for the Clinton power plant before the Meta deal materialized, and we'll update this article if we receive a reply. It's likely that the company would have turned to ratepayers, something Constellation hints at in today's press release: The deal with Meta 'essentially replaces the ZEC [zero-emission credit] program and ensures long-term operations of the plant without ratepayer support.' Meta and its Big Tech peers have fallen head over heels for nuclear power lately. Meta announced earlier this year that it was soliciting proposals for new nuclear power plants that would generate between 1 and 4 gigawatts of power. Today, the company said it has received over 50 qualified submissions for sites in more than 20 states. With the Meta deal, Constellation has landed another Big Tech patron for its nuclear fleet. In September, the power provider said that it would restart a reactor at Three Mile Island after Microsoft agreed to buy all the resulting power. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Daily News Egypt
2 days ago
- Business
- Daily News Egypt
MSMEDA, JICA launch 2nd phase of technical cooperation programme to support 20 industrial projects
The Micro, Small and Medium Enterprise Development Agency (MSMEDA) has launched the second phase of its joint technical cooperation programme with the Japan International Cooperation Agency (JICA), aimed at enhancing the competitiveness of small industrial projects in Egypt. The new phase will focus on 20 enterprises across Minya and Alexandria governorates, particularly in the food processing and plastic manufacturing sectors. Bassel Rahmy, CEO of MSMEDA, reaffirmed the agency's commitment to fostering partnerships with international development institutions as a means of supporting Egypt's small enterprise sector—especially industrial and productive ventures. He emphasized that such collaborations enhance the competitiveness of local businesses, empower domestic industries, and help create sustainable employment opportunities for youth. Rahmy made his remarks during a meeting with Masami Yamamori, a member of JICA's expert team, and senior MSMEDA officials led by Deputy CEO Raafat Abbas. The meeting marked the official launch of the second phase of the cooperation programme, which is part of a broader initiative to strengthen business development services for Egyptian enterprises. 'This second phase reflects the continued confidence of international institutions in Egypt's economy and its promising investment environment,' Rahmy said. He added that MSMEDA and JICA have agreed to maintain close cooperation to support industrial and productive enterprises in both Minya and Alexandria. The programme will involve business development service providers who will offer technical support to factory owners, enabling them to scale their operations and access global markets. Deputy CEO Raafat Abbas explained that the second phase of the programme aims to enhance the operational efficiency and productivity of participating businesses. In Minya, the focus will be on food processing enterprises, while in Alexandria, it will target plastic manufacturing businesses located in the Al-Merghem industrial zone. He noted that implementation is already underway, with a series of workshops organized for service providers and business owners. Abbas added that Japanese experts are currently conducting on-site visits to participating factories to deliver technical consultations and propose practical solutions. These visits are part of a sustained effort to help business owners adopt more efficient operating models and improve overall performance. The projects will be closely monitored over the coming months to track progress and ensure results. The first phase of the cooperation programme, which has already been completed, involved 14 projects that received tailored business development support from both Japanese and Egyptian consultants. Lessons learned from that phase are now being applied to expand the initiative's impact in the second stage.
Barnama
27-05-2025
- Business
- Barnama
Digital Innovation Part Of ASEAN 2045
GENERAL KUALA LUMPUR, May 27 (Bernama) -- ASEAN is reinforcing its commitment to a seamlessly connected region through the ASEAN Connectivity Strategic Plan, which now places digital innovation and technology adoption at the heart of its long-term goals. According to the Plan, the strategic goal for digital innovation is to achieve a community with continuous digital innovation and enhanced cybersecurity, advancing payments and financial markets' connectivity and efficient cross-border flow of information. 'ASEAN's digital economy is growing rapidly, and to unlock the region's digital economic potential and promote digital inclusion, adopting and integrating frontier technologies – such as the Internet of Things (IoT), artificial intelligence (AI) and big data – is essential. 'While technologies and solutions offer significant benefits, their implementation poses challenges, including widening digital divide and increasing online safety and cybersecurity concerns, which will need to be addressed through advancing digital innovation, cross-border data flows, and promoting safe, inclusive access to and adoption of digital technologies and services,' it stated. Digital innovation is one of six strategic areas of the ASEAN Connectivity Strategic Plan, which envisages connecting ASEAN by enhancing the physical, institutional, and people-to-people linkages across the region. The other five strategic areas are sustainable infrastructure, smart and sustainable urban development, seamless logistics and supply chain, regulatory excellence and cooperation, and people-to-people connectivity, which are also crafted to support the realisation of the ASEAN Community Vision 2045. In pursuing these goals, several strategic measures have been identified, including promoting digital data governance to support inclusive and sustainable socio-economic development across ASEAN; promoting the development of and improving the use and accessibility of open data; and supporting the adoption of existing and emerging technologies by all people and businesses, with the focus on Micro, Small and Medium Enterprise (MSMEs), women, youth, and persons with disabilities to enhance competitiveness and productivity. Other strategies include advancing seamless regional payments connectivity; enhancing collaborative research and development of digital technology; strengthening cooperation on cybersecurity measures to protect digital ecosystems, enhance online safety, combat online scams, and enhance trust in digital services, including use of online security technologies and applications. Also enhancing information inclusiveness and accessibility and strengthening collaboration in digital media and information literacy to foster digital literacy among ASEAN citizens and address fake news, disinformation, and misinformation; and strengthening and nurturing digital talent mobility in ASEAN.
Hans India
27-05-2025
- Business
- Hans India
MSMEs are key to leading green mission: Manjhi
Hyderabad: Union Minister for Micro, Small and Medium Enterprises (MSMEs), Jitan Ram Manjhi said that in the present era of global warming, only MSMEs are using traditional practices, which are not harmful to the environment. Hence, the MSMEs are playing a crucial role to protect the environment and lead the green environment mission. The Union Minister was addressing after inauguration of the State Level Vendor Development Programme for SC, ST Entrepreneurs conducted at National Institute for MSME, Yousufguda by National SC-ST Hub. He said that to protect the environment 33 per cent area of the earth should be green, which can produce better oxygen. However, in the present era, there are a large number of industries, which are emitting carbon dioxide. The Minister stressed to design a new integrated education system, which can develop our new generation to become self-dependent. He appealed to rethink about situations and make MSMEs flourish for a better world. He appreciated the Vishwakarma scheme, which is providing skill development facilities as well as other assistance to the traditional artisans.
The Hindu
24-05-2025
- Business
- The Hindu
Andhra Pradesh government launched ‘One Family, One Entrepreneur', to foster a culture of entrepreneurship in every household, says MSME Minister
Minister for Micro, Small and Medium Enterprises (MSME) Kondapalli Srinivas launched Confederation of Indian Industry (CII) Andhra Pradesh Entrepreneurs Development Forum and CII Tirupati Entrepreneurs Development Forum in Tirupati on Saturday. He also unveiled the CII Project 'Abhivrudhi Padham lo Swarna Andhra Pradesh Nuthana Prayanam.' Addressing the gathering, he said, 'The A.P. government has launched the flagship programme 'One Family, One Entrepreneur', with a mission to foster a culture of entrepreneurship in every household. This initiative plays a pivotal role in the development of MSMEs as drivers of self-reliance, innovation and job creation.' The Minister further said, 'In a landmark move under Phase 1, the Chief Minister has inaugurated MSME Parks and Flatted Factory Complexes in 11 Assembly constituencies and the foundation stones were laid in 39 other constituencies at Narempeta village in Atmakur mandal of SPSR Nellore district on 1st May, 2025.' 'In order to sustain the annual growth rate exceeding 15% and achieving $2.4-trillion economy, as mandated under Swarna Andhra@2047, the Chief Minister has reiterated the need for establishment of at least one MSME Park in each constituency for extending infrastructural support by developing plug and play facilities, approach road and power, which would reduce the initial capital costs,' he added. Tirupati District Collector S. Venkateswar said, 'At present, the growth in Tirupati is 18% and there are more than 15,000 MSMEs in the district generating 2.5 lakh employment which is more than the large industries in the district.' S. Narendra Kumar, vice-chairman, CII Andhra Pradesh, said, 'India must create 7.85 million non-farm sector jobs annually by 2030. Microenterprises, being the engine of job growth in dynamic economies, are vital to meeting this challenge. A.P.'s focus on mass entrepreneurship is aligned with national employment goals.' CII project 'The project titled 'Abhivruddhi Patham Lo Swarna Andhra Pradesh' (A new journey towards development) is the first major step by the CII as a part of its Centre of Excellence on Employment and Livelihood (CEL). This has been officially launched with the support from the State government and Volvo Group Trust,' he informed.
