NextEra Power is working with Exxon Mobil, the nation’s largest oil firm, to construct a big information heart website powered by pure gasoline for a possible tech buyer, CEO John Ketchum advised traders Monday
The 1.2 gigawatt energy plant would mix gasoline era with Exxon’s carbon seize expertise to cut back emissions, based on NextEra’s presentation to traders.
They plan to market the location to a hyperscaler within the first quarter of 2026. Hyperscalers are the massive tech firms which are constructing information facilities to coach and run synthetic intelligence functions. There isn’t any signed settlement with a hyperscaler but.
NextEra and Exxon have secured 2,500 acres of land for the ability. The positioning will likely be positioned within the Southeast in shut proximity to Exxon’s carbon dioxide pipeline infrastructure, based on NextEra.
NextEra shares closed about 3% decrease on Monday.
Exxon declined to touch upon the partnership, however stated its “tasks are making progress, and we admire our companions who add strategic worth.”
An individual conversant in the matter advised CNBC that the undertaking is a memorandum of understanding that’s in its early levels.
The oil main introduced final 12 months that it was growing pure gasoline options for information facilities. CEO Darren Woods stated in October that Exxon is in superior discussions with potential clients and companions on information facilities.
NextEra is the most important renewable power developer within the U.S., however it’s leaning into pure gasoline to fulfill the rising demand from information facilities. The facility firm plans to convey as a lot as 8 gigawatts of gasoline era on-line by 2032, and is growing a pipeline of 20 gigawatts of gasoline era.
NextEra plans to construct 15 gigawatts of energy for information heart hubs by 2035, Ketchum stated. That features no less than three information heart campuses that NextEra is growing with Alphabet‘s Google.
“A whole lot of these will get began with what I name bridge energy — renewables, storage,” the CEO stated. “We’re additionally at that very same time planning for the gasoline to return behind it.”
The tech sector has primarily secured renewables and more and more nuclear energy to provide information facilities in an effort to fulfill its local weather targets.