Big Tech Willing to Pay Rising Renewable Costs for AI, AES Says

Long-term power supply contracts from wind and solar farms set to rise by $15-$20 a megawatt-hour after tax incentives expire under Trump Administration legislation passed earlier this year, AES COO Ricardo Falu says in an interview in Manhattan.

• Renewable prices locked in through power purchase agreement had already climbed to $50-$70/MWh on the PJM and New York grids after tariffs were instated earlier this year, Falu says
• Hypercalers will pay higher prices for clean energy because “they are desperate for power” and these resources are the fastest to build right now
• AES has 4 gigawatts of safe harbor projects that ...