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NextEra chairman and CEO John Ketchum said the acquisition was necessary to create a player big enough to satisfy enormous and fast-growing demand for electricity.
NextEra's acquisition of Dominion is the largest U.S. energy deal since Exxon-Mobil in 1998.
KEY POINTS
- The combined company will have a construction backlog of 130 gigawatts, exceeding current generation.
- NextEra plans over $59 billion in annual capital spending, more than any other utility company.
- NextEra is reopening Iowa's Duane Arnold nuclear plant for Google and building 2.5 GW solar for Meta.
- Dominion's Coastal Virginia Offshore Wind project is moving forward after being paused by the Trump administration.
COMPANIES
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