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NextEra Energy and Dominion Energy will merge in a deal that combines two leading players in the race to meet growing electricity demand from data centers that run artificial intelligence applications.
Dominion is the utility responsible for powering the world’s largest data center market in Northern Virginia. It has a market cap of more than $50 billion.
NextEra is the biggest renewable energy developer in the United States. The Florida-headquartered power company is also the largest utility in the S&P 500 at a market cap of more than $190 billion.
Though a major developr of renewables, NextEra has ramped up its investment in natural gas during the second Trump administration.
It is also playing a leading role in the push to expand nuclear energy in the U.S. NextEra announced a deal with Google last year to reopen the mothballed Duane Arnold nuclear plant in Iowa.
This is a developing story. Please check back for updates.
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