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On Monday, Italian energy giant Eni revealed that it had inked a power purchase agreement exceeding $1 billion with Commonwealth Fusion Systems (CFS), a company based in Virginia. Under this agreement, Eni aims to harness nuclear fusion reactions to produce electricity starting in the early 2030s. The project, situated in Chesterfield County, is projected to generate 400 megawatts of electricity, which will subsequently be fed into Virginia's power grid. The CEO of CFS remarked that this deal underscores the immense potential and value of fusion energy within the power grid landscape. Eni has been a steadfast investor in CFS since 2018, driven by its conviction that nuclear fusion represents a pivotal solution to tackle escalating energy costs and sustainability challenges.
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