Latest news with #powerdemand
Yahoo
8 hours ago
- Business
- Yahoo
GE Vernova explores sale of Proficy software unit, Bloomberg News reports
(Reuters) -U.S. power equipment maker GE Vernova is exploring the sale of its industrial software business, Proficy, in a deal that could fetch as much as $1 billion, Bloomberg News reported on Friday, citing people familiar with the matter. Following its independence last year after a three-way split of General Electric, GE Vernova is benefiting from surging domestic power demand. This demand is expected to hit record highs in 2025, driven by rapid expansions in AI and cryptocurrency data centers, as well as increased energy consumption by households and businesses. The asset could be sold for between $900 million and $1 billion, the report said. The company is working with advisers and has reached out to industrial software firms and private equity investors, according to Bloomberg. GE Vernova declined to comment.
Reuters
8 hours ago
- Business
- Reuters
GE Vernova explores sale of Proficy software unit, Bloomberg News reports
June 27 (Reuters) - U.S. power equipment maker GE Vernova (GEV.N), opens new tab is exploring the sale of its industrial software business, Proficy, in a deal that could fetch as much as $1 billion, Bloomberg Newsreported, opens new tab on Friday, citing people familiar with the matter. Following its independence last year after a three-way split of General Electric (GE.N), opens new tab, GE Vernova is benefiting from surging domestic power demand. This demand is expected to hit record highs in 2025, driven by rapid expansions in AI and cryptocurrency data centers, as well as increased energy consumption by households and businesses. The asset could be sold for between $900 million and $1 billion, the report said. The company is working with advisers and has reached out to industrial software firms and private equity investors, according to Bloomberg. GE Vernova declined to comment.
CNA
8 hours ago
- Business
- CNA
GE Vernova explores sale of Proficy software unit, Bloomberg News reports
U.S. power equipment maker GE Vernova is exploring the sale of its industrial software business, Proficy, in a deal that could fetch as much as $1 billion, Bloomberg News reported on Friday, citing people familiar with the matter. Following its independence last year after a three-way split of General Electric, GE Vernova is benefiting from surging domestic power demand. This demand is expected to hit record highs in 2025, driven by rapid expansions in AI and cryptocurrency data centers, as well as increased energy consumption by households and businesses. The asset could be sold for between $900 million and $1 billion, the report said. The company is working with advisers and has reached out to industrial software firms and private equity investors, according to Bloomberg. GE Vernova declined to comment.
Washington Post
3 days ago
- Climate
- Washington Post
One more sizzling hot day for the eastern US before temperatures plunge 30 degrees
NEW YORK — A record-smashing heat wave broiled the U.S. East for another day Wednesday, even as thermometers were forecast to soon plunge by as many as 30 degrees in the same areas. The day's heat wasn't expected to be as intense as Tuesday, when at least 50 heat records were matched or broken and 21 places hit triple-digit temperatures. About 127 million Americans remained under National Weather Service heat advisories, down from the previous day. Sizzling temperatures sent utilities scrambling to keep the air conditioning and lights on amid massive demand for power.
Bloomberg
6 days ago
- Business
- Bloomberg
Largest US Grid Issues Energy Emergency Alert for Monday Heat
PJM Interconnection, which serves about 20% of Americans in the mid-Atlantic to the Midwest, declared an energy emergency alert with power demand expected to climb to a 14—year high amid intense heat. This alert was issued in anticipation of tight conditions on the 13-state system as electricity demand is set to top 160 gigawatts on the afternoon of June 23, which would be the highest peak since July 2011, according to PJM. The Eastern US grid operator also called a 'maximum generation emergency' to shore up supplies.
