NextEra Energy and Exxon Mobil announced a partnership to develop a 1.2‑gigawatt natural‑gas‑powered power plant in the U.S. Southeast. The plant will incorporate Exxon’s carbon‑capture technology, targeting a capture rate of over 90 % of CO₂ emissions, and will sit on a 2,500‑acre parcel that the two companies have secured for the project.
The partnership is part of NextEra’s broader strategy to deliver 15 GW of data‑center power by 2035 and to add up to 8 GW of gas‑generation capacity by 2032. By building a behind‑the‑meter plant that can be marketed to a hyperscaler in the first quarter of 2026, the company aims to meet the explosive AI‑driven demand for reliable, low‑carbon power while leveraging its existing natural‑gas pipeline network.
"We are at an inflection point where the grid cannot keep pace with the AI boom," said NextEra CEO John Ketchum. Exxon’s Dan Ammann added that the partnership “provides a unique opportunity to deliver decarbonized power at scale and speed.” Exxon CEO Darren Woods emphasized that the project is a “package opportunity to decarbonize power” rather than a new core business.
On the day of the announcement, NextEra’s stock closed 2.35 % lower, reflecting a muted market reaction that likely stemmed from the simultaneous disclosure of the Symmetry Energy Solutions acquisition and other corporate updates. No significant analyst commentary or valuation shifts were reported.
Financial terms of the partnership were not disclosed. The plant will be marketed to a hyperscaler in Q1 2026, but the identity of the customer has not been revealed. The 2,500‑acre site will support the 1.2‑GW capacity and is positioned to become a key node in the Southeast’s emerging data‑center ecosystem.
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