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. Read More “NextEra Inks Final Deal, Gets $3.3B for 4.3-GW SWPA Gas Plant”
A coalition of energy and utility companies announced on Wednesday (July 29) that they’re turning a chunk of the U.S. Department of Energy’s (DOE) old Paducah uranium enrichment site in far western Kentucky into a massive data center campus. The gas angle: NextEra Energy will build and own up to 2 gigawatts (GW) of new natural gas-fired generation to power the thing. That’s 2,000 megawatts (MW) of brand-new, on-demand gas burn dropped into a state sitting at the western end of a pipeline system that reaches back toward Appalachia. Here’s the deal in brief… 
Back in May we brought you the news that NextEra Energy is buying and merging with Dominion Energy in a deal valued around $66.8 billion (see 
This is HUGE and breaking news… NextEra Energy and Dominion Energy announced this morning that they will combine in an all-stock transaction, creating the world’s largest regulated electric utility business serving approximately 10 million customer accounts across Florida, Virginia, North Carolina, and South Carolina. The combined entity, operating under the NextEra Energy name, will be over 80% regulated and benefit from enhanced scale, efficiency, and diversified growth. How much is NextEra paying for Dominion? 
In March, the Trump administration announced “South Mon,” a $17 billion natural gas-fueled facility in southwestern Pennsylvania intended to expand domestic energy production (see 
Yesterday, the Trump administration announced “South Mon,” a $17 billion natural gas-fueled facility in southwestern Pennsylvania intended to expand domestic energy production. Part of a $550 billion trade deal with Japan, the hub will be operated by NextEra Energy Resources and generate 4.3 gigawatts (GW) of power. By tapping into the Marcellus and Utica shale regions and connecting to the PJM regional transmission network, the project aims to meet rising demand, lower energy costs, and create local jobs. South Mon is one of three major energy hubs planned nationwide to enhance power affordability and infrastructure across the Mid-Atlantic market. 
It took over two years, but NextEra Energy finally sold its ownership interest in Meade Pipeline Co LLC to investment company Ares Management Corporation for $1.1 billion. You may recall that NextEra acquired Meade Pipeline for $1.37 billion in 2019 (see 
Yesterday, the management of NextEra Energy announced it has officially lost its collective mind. The company is selling its two natural gas pipeline investments–one in Texas and the other right here in the heart of the Marcellus Shale–because it wants to concentrate 100% on unreliable (and government-funded) “renewable” energy projects instead. You may recall that NextEra bought Meade Pipeline Co LLC for $1.37 billion in 2019 (see 
In the “with friends like these” department…One of the main partners with Equitrans Midstream in the project to build the 303-mile Mountain Valley Pipeline (MVP) project is NextEra Energy (31% ownership). MVP took it on the chin three weeks ago when the Democrat judges on the U.S. Court of Appeals for the Fourth Circuit overturned a key permit and a key FERC decision to allow MVP to finish up. The pipeline is 94% complete and in the ground. Yet now, because of those court rulings, NextEra Energy says the pipeline has a “very low probability” of completion.
