Google LLC, Microsoft Corporation, and Nucor Corporation announced they will work together across the electricity ecosystem to develop new business models and aggregate their demand for advanced clean electricity technologies. These models will be designed to accelerate the development of first-of-a-kind (FOAK) and early commercial projects, including advanced nuclear, next-generation geothermal, clean hydrogen, long-duration energy storage (LDES) and others. As a first step, the companies will issue an RFI in several US regions for potential projects in need of offtake, and encourage technology providers, developers, investors, utilities and others interested in responding.
The companies will initially focus on proving out the demand aggregation and procurement model through advanced technology pilot projects in the United States. The companies will pilot a project delivery framework focused on three enabling levers for early commercial projects: signing offtake agreements for technologies that are still early on the cost curve, bringing a clear customer voice to policymakers and other stakeholders on broader long-term ecosystem improvements, and developing new enabling tariff structures in partnership with energy providers and utilities.
Courtesy of Nucor.