The agreement’s initial phase involves land acquisition, gas transport and power plant construction, delaying completion to 2030. Credit: Piotr Swat / Shutterstock.

NextEra Energy has partnered electric services company GE Vernova to develop natural gas-fired power generation projects in the US, as reported by Reuters.

The projects will predominantly supply electricity to AI data centres and other significant power consumers.

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The collaboration aligns with the increasing demand from Big Tech’s data centres for natural gas-fired electricity amidst uncertainty over federal support for renewable energy under the new administration.

Up to 2029, NextEra and GE Vernova aim to initiate power generation projects that might integrate natural gas plants with renewable energy sources such as solar and battery storage.

NextEra CEO John Ketchum highlighted that the agreement is in its initial phase, which involves land acquisition, development, gas transportation and the construction of power plants with turbines that have long delivery times. The potentially extends the timeline to 2030.

He noted that in contrast to the lengthy development process for gas-fired plants, solar projects and onshore wind projects can be completed in 18 months and 12 months respectively.

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NextEra reported a decrease in profit for the fourth quarter of 2024, primarily due to underperformance in its renewables segment.

NextEra Energy Resources experienced a project backlog growth during the quarter, driven by the rising power demand from data centres amid an AI surge, and increased electricity usage for heating and transportation in homes and businesses.

The renewables division’s overall performance was impacted by a one-off loss of $845m related to investments in a subsidiary and elevated operating expenses.

Nonetheless, NextEra Energy is planning to recommence operations at its Duane Arnold nuclear power plant in Iowa as early as the end of 2028.

Looking ahead, NextEra Energy’s long-term financial expectations remain steady. For 2025, the company continues to anticipate adjusted earnings per share to be between $3.45 and $3.70. For 2026 and 2027, the expected ranges are $3.63 to $4.00 and $3.85 to $4.32 respectively.