The Energy Digital Year in Stories: October

January 03, 2025

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UK Prime Minister Sir Kier Starmer and Iberdrola Executive Chairman Ignacio Galán

We look at the articles that made the news across the energy space 2024. Today, it is October’s turn, featuring Schneider Electric, Gartner, Google and bp

Why Energy Giant Iberdrola is Doubling UK Investment

ScottishPower is part of the Iberdrola Group, one of the world’s largest integrated utility companies and a world leader in wind energy.

It has been at the forefront of renewable energy generation for more than three decades and has a portfolio of 38 onshore wind farms in the UK.

Now Iberdrola has announced it will inject £12bn (US$15.7bn) into ScottishPower over the next four years, doubling its existing UK commitment.

The timing of this investment comes as the UK government seeks to attract foreign investment and coincides with the run-up to the International Investment Summit in London, where global business leaders will convene to discuss economic growth and energy investment.

Glasgow-headquartered energy company ScottishPower generates, distributes and transports electricity, as well as supplying gas and electricity to millions of customers across the UK.

It is one of the UK’s big six energy suppliers, alongside British Gas, EDF Energy, E.ON, Npower and SSE.

Its CEO Keith Anderson, who has been in post since 2018, oversees ScottishPower’s operations and has held positions across the business for more than 25 years.

ScottishPower is committed to transitioning the UK to clean energy, with major investments in wind power, solar and battery storage projects in recent years.

Its portfolio includes significant offshore and onshore wind farms — such as East Anglia 3 — and plays a crucial role in the UK's drive towards net-zero carbon emissions.

ScottishPower is also investing in grid infrastructure, helping to ensure a reliable and sustainable energy future.

Google Boosts Data Centre Power with Nuclear Energy

Google is sourcing nuclear energy from small modular reactors (SMR) to promote the US clean energy transition.

With a pioneering corporate deal with Kairos Power, Google aims to operate its first nuclear reactor by 2030 by buying energy from numerous SMRs developed by Kairos Power.

Already pivotal in using technology to advance clean energy, Google now addresses recent spikes in its emissions linked to investments in AI data centre expansion. They hope nuclear energy will curb emissions, ensuring US grids have continuous, carbon-free, and cost-effective power

"The grid needs new electricity sources to support AI technologies," notes Google's Michael Terrell, the Senior Director for Energy and Climate. "This agreement helps accelerate a new technology to meet energy needs cleanly and reliably, and unlock the full potential of AI for everyone."

Kairos Power's innovative design combines molten-salt cooling with ceramic pebble fuel, creating an efficient, safe and low-cost nuclear reactor.

Google highlights Kairos Power's strategy to refine its technology through extensive hardware tests before launching its commercial plant. This approach aims to fast-track reactor deployment through vital learning and efficiency gains.

Focused on smaller reactors using molten fluoride salt coolants, Kairos Power contributes to the zero-carbon power solution which supports a reliable electricity supply 24/7. Although these reactors produce some radioactive waste and consume significant energy, they are increasingly seen as essential for global tech leaders trying to decrease emissions.

As reliance on SMRs grows, we could see a surge in nuclear-powered data centres within the decade, especially as the sector's energy consumption is set to double soon. The US particularly envisages a threefold increase in nuclear capacity by 2050, stepping away from fossil fuels.