10/22/2023 0 Comments Download terragen![]() ![]() Additionally, feasibility regarding renewable energy initiatives may be clouding Micron.įor the latter, not everyone is buying the holistic benefits of fully sustainable energy ambitions. At least some of the headwinds may be due to concerns that the AI-adjacent economy may be getting overheated. Not only did MU stock slip on Thursday, for the trailing five sessions, it’s down about 7%. ![]() MU Stock Possibly Hit with Feasibility and AI Hype ConcernsĪlthough the recent disclosure should be a net positive for society, investors had other ideas. “Terra-Gen’s proven track record of building and operating efficient facilities, as well as the maturity of this particular wind project enables Micron to diversify our energy portfolio and to effectively manage our long-term energy costs in the U.S.,” added Bhatia. Micron Executive Vice President of Global Operations Manish Bhatia emphasized the company’s progress toward fully integrating renewable energy sources. Specifically, this contract will aid Micron’s U.S.-focused target to hit 100% renewable energy incorporate by the end of 2025.įurther, this agreement represents the latest milestone in Micron’s ambitions to achieve net zero greenhouse gas emissions by 2050. ![]() As well, it will receive associated renewable energy certificates annually. Under the terms of the deal, Micron will receive about 178 megawatts (MW) of wind electricity capacity. However, MU stock dipped around 3% in the afternoon hours, likely due to feasibility concerns associated with go-green initiatives, along with an overheated artificial intelligence ( AI) market.Īccording to the accompanying press release, Micron signed a 15-year virtual power purchase agreement for its U.S. On paper, the agreement will help undergird Micron’s renewable energy integration ambitions. Computer memory and data storage specialist Micron Technology (NASDAQ: MU) generated headlines on Thursday morning when it announced a partnership with Terra-Gen, a leading developer of renewable energy. ![]()
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