NextEra Energy Inc (NEE.N) $100B Datacenter Hub Deal Announced in Kentucky - Likely More To Come

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NextEra Energy Inc (NEE.N) $100B Datacenter Hub Deal Announced in Kentucky - Likely More To Come

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30 Jul 2026 22:53:29 ET │ 11 pages

NextEra Energy Inc (NEE.N)

$100B Datacenter Hub Deal Announced in Kentucky - Likely More To

Come

CITI'S TAKE Buy

Price (30 Jul 26 16:00) US$87.93 NextEra and its partner, Brookfield, announced a large datacenter hub in

Target price US$102.00 Kentucky yesterday. We caught up with Brookfield management today on

the project. The deal is 1.2GW (could be scaled up or down) of IT load and Expected share price return 16.0%

the plan is for NextEra to build and own the generation, and associated Expected dividend yield 2.9%

utility infrastructure. The deal is conditional on a hyperscaler signing a Expected total return 18.9%

long term offtake agreement. Brookfield is focused on the datacenters and Market Cap US$183,420M

potentially the chips (also brings long-term land lease). It is unclear if

Brookfield and NextEra will work together on future projects at this stage.

Overall, we view this announcement and partnership with Brookfield as a

positive for NEE's outlook for future datacenter hubs in the US. Ryan LevineAC

+1-212-816-6555

ryan.levine@citi.com

Announcement: NextEra Energy plans to develop 2 GWs of new grid-connected

natural gas-fired generation, upgrade existing transmission infrastructure, and

deploy up to 2.6 GW of batteries. The site is under a very long-term lease with

Brookfield that will be contributed to the project. The site location is near the

Jackson Purchase Energy Corporation service territory (not near PPL's service

territories). The project targets up to 1.2GW of IT load. In our view, it is to be

determined the exact number of the MW for the project, as the project can be scaled