NextEra finalizes funding for 10 GW gas generation

NextEra Energy has announced definitive agreements with the U.S. Department of Commerce and the Government of Japan to fund development and operation of up to 10 GW of natural gas-powered generation in Texas and Pennsylvania.

• The first tranche of funding will support development activities including down payments on long-lead equipment, such as turbines, and selection of engineering, procurement and construction contractors.
• The projects were selected in connection with Japan’s $550 billion investment commitment to the United States; initial resources are expected online by end-2028 and completion is expected in 2032. The release also cites a $3.3 billion initial investment and a $17 billion South Mon project with 4.3 GW of generation.