Larry Fink says wind and solar "can’t reliably keep the lights on" for data centres

A dispute is unfolding in Australia over how to power a boom in data centres, which require round-the-clock electricity. The Northern Territory government supports building several large AI-focused data-centre campuses near Darwin, to be fueled by gas from the Betaloo Basin. The federal government, however, wants these facilities to rely on new renewable energy. The issue is expected to be discussed at a meeting of energy ministers, with Queensland also opposing the renewables-only requirement. BlackRock CEO Larry Fink recently stated at the World Economic Forum in Davos that wind and solar power alone cannot provide the reliable, always-on electricity that data centres need, noting that the world faces a power shortage. The debate highlights the tension between renewable targets and the growing, uninterrupted demand from the data-centre industry.