Chevron signed a 20-year deal with Microsoft to supply 2.67 gigawatts of natural gas-fired electricity for data centers, a project called Project Kilby slated to come online in 2028 in Reeves County, West Texas. The facility will generate enough power for more than 2 million homes, featuring at least seven GE Vernova turbines and several Caterpillar Solar Titan 350 turbines. Chevron has a market cap of approximately $370 billion and plans to develop similar projects in the Rockies and the U.S. Midwest. The company differentiates itself by combining natural gas resources, available land, and project management expertise, capabilities that are rare in the sector. This strategy positions Chevron as a unique player ahead of competitors including ExxonMobil in the race to power AI hyperscalers.
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