Core Viewpoint - Constellation Energy has signed a new agreement to provide 380 megawatts of power to a data center operated by CyrusOne in Texas, indicating a strategic move to support the growing demand for data center energy needs [1] Company Summary - Constellation Energy is a major U.S. power company that is expanding its service capabilities by partnering with CyrusOne to connect and serve a new data center [1] - The new data center will be located adjacent to the Freestone Energy Center in Texas, highlighting the company's focus on infrastructure development in energy-intensive sectors [1] Industry Summary - The agreement reflects the increasing energy demands of the data center industry, which is rapidly growing due to the rise in digital services and cloud computing [1] - The partnership between a power company and a data center operator underscores the importance of reliable energy supply in supporting technological advancements and infrastructure [1]

Core Insights - Fermi America has announced the arrival of six Siemens Energy SGT-800 gas turbines at the Port of Houston, marking a significant milestone in the natural gas power delivery schedule for Project Matador [1] - The SGT-800 turbines will provide approximately one-third of the first gigawatt of power produced at Project Matador, which aims to address the increasing demand for reliable electricity in the U.S. [1] - The project integrates various energy sources, including clean natural gas, nuclear, battery energy storage, and solar, to create a diversified on-site generation platform [1] Company Developments - Fermi America is co-founded by former U.S. Energy Secretary Rick Perry and aims to develop next-generation private electric grids with a projected capacity of 11 GW [1] - The company emphasizes its commitment to energy independence and national security while ensuring that Texas consumers do not bear the financial burden [1] - The arrival of the turbines is part of an accelerated schedule to meet the demands of hyperscalers and American consumers for reliable power [1] Industry Context - The increasing reliance on AI and advanced computing in the U.S. has created a pressing need for enhanced power generation capabilities [1] - Project Matador is positioned to deliver massive-scale, always-on power, which is essential for the next generation of AI computing [1] - The integration of multiple energy sources in Project Matador reflects a trend towards more sustainable and flexible energy solutions in the industry [1]

CALGARY, Alberta, Feb. 09, 2026 (GLOBE NEWSWIRE) -- Maxim Power Corp. ("MAXIM" or the "Corporation") (TSX: MXG) announces that it has entered into a gas turbine and generator reservation agreement (the “Agreement”) with GE Vernova (NYSE: GEV). The Agreement allows MAXIM to hold a manufacturing slot for a 7HA.02 gas turbine and generator package (the “Gas Turbine”) with a target delivery by 2030. To hold this manufacturing slot, MAXIM is required to provide a non-refundable deposit which is payable in 2026. ...

东吴证券发布研报称，需求端，美国AIDC项目激增导致美国电力需求非线性增长。供给端，2025年总 量供应短期基本满足需求，但长期来看，美国供给端面临稳定供应总量下滑&区域性缺电困境。北美缺 电投资逐渐从燃气轮机向燃气内燃机、SOFC扩散，当前北美缺电量仍大于各种技术总产能供应，因此 该板块尚未到达选择技术路径的阶段，各类技术路径的相关投资机会都应重视。 综合考虑成本、建设周期、环保等因素，燃气轮机是当前AIDC自建电最优解，燃气内燃机、SOFC、柴 发为有效补充 (1)燃气轮机：联合循环燃气轮机发电效率可以达到60%以上，度电成本最低，当前燃气轮机装机量呈现 加速上行趋势，2025年全球新增装机规模有望快速接近上轮周期最高点，GEV、西门子、三菱重工等 燃机龙头订单交付已经排至2029年;(2)燃气内燃机：在发电效率上略低于联合循环燃机，但胜在快速交 付与部署，龙头瓦锡兰2025Q1-Q3新签设备订单同比增长111%，订单交付排至2028年;(3)SOFC：热电联 供发电效率虽高，但当前商业化和成本控制处于初期阶段，度电成本和产能释放导致该技术短期无法成 为主流线索;(4)柴油发电机组：具备快速启停优势，备用 ...

Core Insights - GE Vernova exemplifies the positive sentiment shift in the clean energy transition and the increasing power demand driven by AI applications, showing strong performance in its latest results and a robust start to 2026 [1] Group 1: Stock Performance - GE Vernova's stock increased by 11.1% in January and is up 12.9% in 2026, with over 100% growth in the past year, marking a significant recovery from its previous struggles as part of General Electric [2] - The company faced concerns at the end of the 2010s regarding its gas turbine equipment and services amid fears of a shift towards solar and wind power, which were perceived to limit growth prospects [2] Group 2: Demand and Orders - The demand for gas turbines has surged due to the challenges of renewable energy intermittency and the rising power needs for AI-driven data centers, leading to increased gas turbine orders measured in gigawatts (GW) [3] - Gas turbine orders are projected to grow significantly, with orders increasing from 9.8 GW in 2022 to 29.8 GW in 2025 [4] - The backlog of gas power equipment has risen from 33 GW at the end of 2024 to 40 GW at the end of 2025, with customers now signing slot reservation agreements (SRAs) to secure future production slots, growing from 29 GW to 43 GW in the same period [5] Group 3: Future Outlook - CEO Scott Strazik provided an optimistic forecast for 2026, expecting to reach approximately 100 GW under contract, with anticipated shipments in the high teens in gigawatts and new contracts exceeding 30 GW [6] - The substantial increase in the installed base of heavy-duty gas turbines is expected to lead to a significant rise in high-margin services revenue in the future [6]

Core Viewpoint - Clearway Energy (CWEN) has made significant changes that support its ambitious growth guidance, projecting a Cash Available For Distribution (CAFD) of $2.90-$3.10 by 2030, indicating a compound annual growth rate (CAGR) of 7%-8% through 2030 [2][4]. Company Guidance - CWEN's long-term guidance includes a target CAFD of $2.90-$3.10 by 2030, reflecting a growth rate of 7%-8% CAGR [2]. - The growth rate is considered unusual for a yield-co, which typically focuses on steady cash flows to pay dividends, limiting retained cash for further investments [3][4]. Market Environment - The demand for energy has surged, driven by the rise of AI and the need for increased power capacity, while regulatory frameworks have not kept pace with this demand [5][6]. - CWEN is well-positioned to capitalize on this demand due to its developer mindset and a parent company pipeline of over 11 GW, which will be dropped down into CWEN at strong CAFD yields [6]. Project Pipeline - CWEN has a robust pipeline of projects, with several repowering initiatives already in progress, targeting CAFD yields of about 10.5% [12][14]. - The company has 863 MW of repowering projects locked in with power purchase agreements (PPAs), which are expected to yield double-digit returns [17]. Pricing Trends - Power purchase agreement (PPA) pricing has nearly doubled, which positively impacts CWEN's yield and organic growth potential [8][19]. - Historical PPA prices have seen a significant decline, but recent trends indicate a recovery, with prices expected to stabilize around $70/MWh for solar and wind by 2025-2026 [31][32]. Organic Growth Potential - The upward trend in PPA prices enhances CWEN's organic growth prospects, allowing for better contract renewals and reducing the risk of revenue declines from expiring contracts [34][36]. - CWEN aims to maintain a growth rate of CAFD per share at 5% or more beyond 2030, supported by favorable market conditions [37]. Share Structure and Valuation - CWEN has a dual share structure, with CWEN.A trading at a discount compared to CWEN, presenting an arbitrage opportunity for investors [38][39]. - The current valuation suggests that a 16X CAFD multiple is reasonable, given the company's growth ambitions and market conditions [37].

Group 1 - The combined capital spending commitments by Amazon and Alphabet for 2026 total $385 billion, significantly higher than the $222 billion for 2025 [1] - Despite the decline in stock prices for Amazon and Alphabet, AI infrastructure companies like GE Vernova have seen positive performance, with GE Vernova rising over 5% in late trading [1] - Oracle's exposure to OpenAI is under scrutiny, with a $300 billion deal to build infrastructure for OpenAI, which is projected to require $115 billion in funding by 2030 [2] Group 2 - GE Vernova is experiencing strong demand for its gas turbines and electrification equipment, driven by the need for power to support data centers [5] - The company is expected to achieve mid-teens revenue growth from 2025 to 2028, with earnings projected to more than double during this period [6] - The recent spending commitments from Alphabet and Amazon have bolstered investor confidence in GE Vernova's guidance, contributing to its stock performance [7]

Core Insights - Bloom Energy Corp. achieved record full-year revenue of $2.02 billion in 2025, marking a 37.3% increase from 2024, driven by a significant shift in how major industries secure electricity [1] - The company is positioning itself as a key player in the AI boom, with AI data centers consuming nearly 100 times more power than traditional systems, leading to increased demand for its energy solutions [2] - Bloom's product backlog surged 140% year over year to $6 billion, contributing to a total backlog of approximately $20 billion, indicating strong market demand [4] Financial Performance - Bloom Energy reported an adjusted EBITDA of $271.6 million, showcasing the operating leverage as the business scales [5] - The company provided an aggressive revenue guidance for 2026, estimating between $3.1 billion and $3.3 billion, significantly above analyst expectations [5] Industry Trends - The transition to 800 volts DC is expected to become the standard for data centers, as it eliminates waste and complexity associated with traditional AC-to-DC conversion [3] - The mantra "Bring Your Own Power" reflects a shift in the industry where on-site power is now considered a vital business necessity rather than a last resort [4]

Company Performance - GE Vernova's shares increased by 98.7% in 2025 and have gained an additional 13% in 2026 so far [1] - The company reported orders worth $59 billion in 2025, with a backlog growth of $31 billion to reach $150 billion [6] - Revenue grew by 9% to $38 billion, and free cash flow (FCF) was $3.7 billion, ending the year with nearly $9 billion in cash [6] Strategic Developments - GE Vernova acquired its remaining 50% stake in Prolec GE for $5.3 billion, enhancing its position in the North American grid infrastructure market [7] - The company secured a deal with Duke Energy to supply up to 11 natural gas turbines, highlighting its role in meeting the power demands of data centers [4][5] Future Projections - For 2026, GE Vernova anticipates revenue growth of at least 15%, projecting revenues between $44 billion and $45 billion, with FCF expected to be between $5 billion and $5.5 billion [8] - By 2028, the company expects revenue to reach $56 billion and cumulative FCF to total $24 billion [8]

Core Viewpoint - Kodiak Gas Services is acquiring Distributed Power Solutions (DPS) for $675 million, aiming to expand into distributed power generation and address the growing demand for behind-the-meter power solutions, particularly from data centers [3][4][6]. Acquisition Details - The acquisition will add a fleet of 384 MW of distributed power equipment, including turbines and reciprocating engines, enhancing Kodiak's flexibility across various applications [1][6]. - The total cost of the transaction, including estimated fees and expenses, is approximately $690 million, with a valuation of about 7.4 times DPS's expected 2026 adjusted EBITDA [3][5]. Strategic Rationale - Kodiak's management views DPS as an ideal asset base for entering the distributed power market, which has been under study for some time [2][4]. - The acquisition is expected to be accretive to both discretionary cash flow and earnings, while allowing Kodiak to maintain its commitment to shareholder returns [2][6]. Market Context - The U.S. power market is at an inflection point, with electricity demand for data centers expected to double by 2035, accounting for over 50% of U.S. power demand growth during that period [9][11]. - Grid interconnection delays are pushing large power consumers toward on-site generation, with estimates indicating that over 40% of data centers expected to be online by 2035 will not connect to the grid [10][11]. Customer Exposure - Approximately two-thirds of DPS's active fleet is currently contracted to data centers, with a multi-year agreement in place for primary power to a large data center operator in Virginia, achieving 99.9% reliability [8][6]. - Kodiak is also involved in behind-the-meter microgrid projects, indicating a growing pipeline of additional data center opportunities [8][6]. Financing and Capital Allocation - Kodiak plans to finance the acquisition with approximately $590 million drawn from its ABL facility and $100 million in stock, equating to about 2.4 million shares [5][19]. - The company aims to honor its balance sheet while maintaining a disciplined capital approach, with expectations for organic investment returns in power and compression to outweigh share repurchases [16][14].