NextEra Inks Final Deal, Gets $3.3B for 4.3-GW SWPA Gas Plant

Back in March, we brought you news that the Trump administration had announced "South Mon," a $17 billion, 4.3-gigawatt (GW) natural gas-fired power hub headed for southwestern Pennsylvania, funded as part of Japan's $550 billion U.S. investment commitment (see Trump Admin Announces $17 Billion Gas-Fired Power Plant for SWPA). At the time, we grumbled that there were "precious few details" — no location, no contracts, no money changing hands. Just a handshake at the White House. On Tuesday, NextEra Energy (NYSE: NEE) announced the handshake has become a signature. The company has executed definitive agreements with the U.S. Department of Commerce and the Government of Japan covering up to 10 GW of gas-fired generation across Pennsylvania and Texas — and, more importantly, an initial $3.3 billion tranche of funding has been released. That money buys turbines. Real ones.

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