POWER Magazine

MiCo Co. Ltd. announced that its subsidiary, Hyundai Heavy Industries Power Systems Co. Ltd. (HPS), has signed a share purchase agreement (SPA) to acquire a 100% stake in Netherlands-based NEM Energy B.V. from Mutares SE & Co. KGaA, a German-listed investment firm. The transaction, which includes NEM Energy’s German subsidiary NEM Balcke-Dürr GmbH, is scheduled to close in the third quarter of 2026, subject to customary regulatory approvals.

Elevate Infrastructure and ArcLight Capital Partners on June 11 announced the companies have begun operating the 150-MW/600-MWh Prospect Power battery energy storage project in Rockingham County, Virginia. The groups on Thursday said a ribbon-cutting ceremony included representatives from local utility Dominion Energy, along with state and local officials, community leaders, and project partners.

Technology giant Meta said it has expanded its partnership with major renewable energy developer RWE through a long-term corporate power purchase agreement (PPA) for the 298-MW Rabbit’s Foot Solar installation in North Texas. The companies on June 11 said it is the fourth PPA they’ve signed together since 2024. The Rabbit’s Foot project in Bowie County, Texas, began onsite construction earlier this year.

Cypress Creek Energy has announced financial close on the first two phases of the three-phase Steel River Energy Center in Arkansas. The company on June 11 said it secured $3.5 billion in financing for the project. Phase 1 and Phase 2 combined will feature 1.63 GW of solar power along with 1.9 GWh of battery energy storage.

For ages, diesel generators have sat behind hospitals and on campuses waiting to do one job: provide power for a few hours each year when the lights inexplicably go out. Today, the narrative is changing—and fast. When U.S. Secretary of Energy Chris Wright wrote to the nation’s grid operators on Jan.

A Colorado-based fusion energy company said the U.S. Dept. of Energy (DOE) has approved the company’s preconceptual technical design for its commercial fusion power plant. Xcimer Energy on June 10 said the DOE also supports the group’s development roadmap for Athena, which is the reference architecture for what the Denver-headquartered company said would be its fleet of fusion power plants. Xcimer is among several U.S. and global groups working to commercialize fusion energy.

A Texas-based power producer has broken ground on a new natural gas-fired power plant that is part of the state’s plan to increase its supply of dispatchable electricity. Rayburn Electric Cooperative on June 9 began construction of the 570-MW Rayburn Electric Station II, adjacent to the existing 758-MW Rayburn Electric Station located on the company’s campus in Sherman, Texas. Utility officials said the new power station is expected to enter commercial operation in June 2028.

The U.S. averages 470 GW of demand, reaches summer peaks of 759 GW, and has 1,250 GW of generation capacity. Does that sound like a grid running out of power? PJM’s latest capacity auction signals the need for an additional 14.9 GW of power resources, while the industry is expected to invest $1.4 trillion over the next five years to support the artificial intelligence (AI) boom. So what problem are we really trying to solve?

From EOP-012-3 to Order 587-AB, from Cold Weather Critical Component inventories to dual-fuel conversions, the bulk power system has spent five years rewiring how it prepares for extreme cold. Winter Storm Fern, the latest test, showed the system ran “very close to the edge.” The last five winters have given the North American power sector a harried sequence of tests.

System planners and grid operators are treating extreme heat as an assumed operating condition given new pressures, including drought, demand growth, and fuel concerns. Will it be enough? For decades, the U.S. power system treated extreme heat as a tail risk, managed through seasonal readiness—something for which to prepare.