Renewables Swept Up in Data Center Backlash

Renewables Swept Up in Data Center Backlash

Solar and wind projects are getting swept up in the blowback to data center construction, presenting a risk to renewable energy companies who are hoping to ride the rise of AI in an otherwise difficult moment for the industry. The American data center boom is going to demand an enormous amount of electricity and renewables developers believe much of it will come from solar and wind. But while these types of energy generation may be more easily c…

SolarBank Corp. Targets Data Center Boom with Renewable Energy Amid Rising AI Power Demands

SolarBank Corp. (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2) has announced its strategic expansion into the global data center market, a sector valued at $395 billion, with a focus on renewable energy solutions. This move is timely, as the demand for power by artificial intelligence (AI) data centers is expected to surge from 4 gigawatts today to 123 gigawatts by 2035, according to Deloitte. This thirtyfold increase presents both a challenge and an…