AI Boom Will Boost US Renewables Despite Trump, Fortescue Says [Yahoo! Finance Canada]
FORTESCUE METAL GRP S/ADR (FSUGY)
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Source: Yahoo! Finance Canada
significantly damp demand for clean power in the US, where artificial intelligence will further accelerate the shift to cheap, low-carbon energy, according to Fortescue Ltd. Cost-of-living pressures and an AI-driven surge in power use will ensure clean-energy demand grows over the mid-to-long-term in the US, Chief Executive Officer Dino Otranto said in an interview on Friday. Renewable energy is already more economical than coal or gas in the US despite political roadblocks, he said. Most Read from Bloomberg “What the US consumer needs is lower cost of energy in a inflationary environment,” Otranto said, adding that renewables provide that solution. “Politics will be, pardon the pun, trumped by economics.” Otranto spoke after the Australian miner said it finalized its acquisition of Spanish renewable technology company Nabrawind SL, and signed preliminary agreements with BYD Co., LONGi Green Energy Technology Co., and Envision Greenwise Holdings Ltd. for wind turbines, solar p
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