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Investing.com -- NextEra Energy (NYSE:NEE) stock rose 1.4% following reports that the company plans to restart its Duane Arnold nuclear power plant in Iowa to supply electricity to Google data centers.
According to a Fox Business report on Monday, NextEra is preparing to bring the 600-megawatt nuclear facility back online by 2029 under a partnership with Google’s parent company Alphabet (NASDAQ:GOOGL). The plant was shut down in 2020, but NextEra has reportedly been considering restarting operations for at least a year amid increasing power demand.
The Duane Arnold facility would primarily generate electricity for Google’s data centers, which require substantial power for their operations. This arrangement represents a significant development for NextEra as it seeks to capitalize on growing energy needs from technology companies expanding their data infrastructure.
The nuclear power plant restart aligns with broader industry trends as companies explore reliable energy sources to support the expanding digital economy, particularly for power-intensive operations like data centers.
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