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18.05.26 - 17:48
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"Scale Matters": NextEra, Dominion To Merge In Utility Megadeal Aimed At Grid Expansion To Power AI Boom (ZeroHedge)
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"Scale Matters": NextEra, Dominion To Merge In Utility Megadeal Aimed At Grid Expansion To Power AI Boom
As power demand surges on the back of data-center buildouts, with hyperscalers expected to unleash about $700 billion in capex this year to expand AI infrastructure and maintain an edge over China in the AI compute race, NextEra Energy and Dominion Energy are moving to scale up. The utilities agreed to a $67 billion all-stock merger that would create the world's largest regulated electric utility network.
Dominion shareholders will receive .8138 NextEra shares for each Dominion share, leaving NextEra investors with about 74.5% of the combined company and Dominion holders with 25.5%. The merged utility would be more than 80% regulated, serve 10 million customer accounts, and control about 110 gigawatts of generation capacity across the U.S. East Coast, from Florida to a cluster of data centers in Northern Virginia.
NextEra positioned the merger with Dominion as a way to quickly sc...
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