NextEra Energy NYSE:NEE, one of the world's largest power companies, slipped approximately 0.4% in Wednesday's regular session by 11:52 a.m. ET after announcing a $100 billion Kentucky data-center project with Brookfield Asset Management NYSE:BAM, a global alternative-asset manager. The campus is planned for a federally owned former uranium-enrichment site in Paducah. It is expected to provide more than 1.2 gigawatts of computing capacity and as much as 1.8 gigawatts of electricity to the grid.
NextEra plans to develop up to two gigawatts of natural-gas generation and 2.6 gigawatts of battery storage. Brookfield would own and operate the 1.8-gigawatt campus, while regional utilities would provide wholesale and distribution services. Operations are targeted to begin in 2028, with full development scheduled four years later. Existing transmission, water and fiber infrastructure at the former nuclear site could help accelerate construction.
NextEra's planned gas and battery capacity totals 4.6 gigawatts, demonstrating the scale of energy infrastructure required to support the computing campus and surrounding grid. For comparison, Reuters reported that one gigawatt can supply approximately 750,000 homes. The companies said the project was structured around a government pledge intended to prevent data-center energy costs from being transferred to residential customers. Investors may nevertheless focus on financing, construction execution and customer commitments because the project remains subject to negotiation and definitive documentation.