Oracle proposes power service agreement for New Mexico data center and offers electricity rate support for customers
BE Bloom Energy Corp
$263.45 +0.45%
View chart & analysis → - 1Oracle has proposed an energy service agreement with El Paso Electric for Project Jupiter, its artificial intelligence data center campus in New Mexico.
- 2Oracle detailed a separate proposal to provide up to $55 million in annual direct electricity rate credits over a maximum of three years to El Paso Electric residential and small business customers in New Mexico.
- 3Oracle stated there are no changes to the plan, confirming that Bloom Energy's fuel cell microgrid will continue to provide the site's primary power supply.
So what's the key point?
Oracle has proposed a power supply agreement for its New Mexico data center. As part of this process, the company has decided to provide $55 million in electricity rate support to local residents and small businesses.
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