NextEra secures $3.3 billion backing for up to 10 GW of gas power in Texas, Pennsylvania
NextEra secures $3.3 billion backing for up to 10 GW of gas power in Texas, Pennsylvania Aug 12 (Reuters) - NextEra Energy NEE.N said on Wednesday it had secured an initial $3.3 billion investment under agreements with the U.S. Department of Commerce and the Japanese government to develop up to 10 gigawatts of gas-fired power capacity in Texas and Pennsylvania.
Power companies such as NextEra, among the world's biggest energy developers, are tapping into record electricity demand fueled by the rapid expansion of AI data centers.
The announcement follows President Donald Trump's approval of the projects, tied to Japan's $550 billion investment commitment to the United States.
NextEra CEO John Ketchum said the Texas and Pennsylvania developments are among more than 30 energy hubs in various stages of development across the company's portfolio.
Projects are expected to come online by the end of 2028 and are expected to be completed in 2032.
(Reporting by Katha Kalia in Bengaluru; Editing by Diti Pujara)
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