Per the Times, Chevron is already ordering equipment and pursuing potential locations for these power plants, which the company believes it can get up and operational in just three years. The plan, according to Chevron CEO Mike Wirth, is to “meet the moment and address this growing need for reliable and affordable power.”

Oil and gas producer Chevron said on Tuesday it plans to build natural gas-based power plants next to data centers in the U.S., as energy demand to support the growth of artificial intelligence is expected to boom.

Activist investor Engine No.1 is now teaming up with Chevron to build natural gas-fired power plants to meet soaring AI-driven electricity demand.

Key Takeaways Chevron and GE Vernova have partnered to build natural-gas power stations for U.S. data centers.The joint venture, which also includes investment firm Engine No. 1, plans to deliver up to 4 gigawatts of power,

Chevron Corp. is launching a partnership to develop natural gas-fired power plants next to data centers, a move that will allow it to tap into surging demand for electricity for artificial intelligence.

Engine No. 1 and Chevron U.S.A. Inc. have announced establishing a strategic partnership to develop scalable and reliable power solutions for data centers across the United States, specifically powered by domestic natural gas.

Chevron, Engine No. 1 and GE Vernova are developing natural gas power plants to support AI-driven data centers, aiming to deliver up to four gigawatts by 2027.