According to the Zhitong Finance APP, Nextera Energy (NEE.US) plans to restart a nuclear power plant in Iowa, with electricity primarily supplied to Google's (GOOGL.US) data center. According to a statement released on Monday, the Duane Arnold Energy Center is expected to begin supplying power in 2029 after reaching an agreement with Google. This nuclear power plant, with an installed capacity of 615 megawatts, was shut down in 2020, well before the surge in power demand driven by the artificial intelligence boom.
The enormous power demand from data centers is reshaping the energy industry, with tech companies racing to connect large data centers to the grid. Hyperscale data center operators favor nuclear energy because it can provide clean and uninterrupted power 24/7.
However, building new nuclear reactors takes years. Restarting decommissioned nuclear power plants is seen as a quicker solution, but currently, only a few nuclear power plants appear to be feasible for restart.
KeyBanc Capital Markets analyst Sophie Karp wrote in a research report, &#34;The speed at which this deal was reached further demonstrates the strong demand for electricity, especially for baseload power and zero-emission power.&#34;
Constellation Energy (CEG.US) is advancing the restart of a reactor at the Three Mile Island nuclear power plant in Pennsylvania, expected to be operational by 2027. Holtec International plans to restart the Palisades nuclear power plant in Michigan early next year.
Meanwhile, South Carolina utility Santee Cooper announced last week that it is in talks with Brookfield Asset Management to complete the construction of the VC Summer nuclear power plant, which was halted in 2017 due to soaring costs and remains unfinished.
Nextera Energy has agreed to sell electricity from the Duane Arnold Energy Center to Google for 25 years. The company will also acquire shares from the minority shareholders of the nuclear power plant—Central Iowa Power Cooperative and Corn Belt Power Cooperative—and will sell the remaining electricity from the nuclear power plant to Central Iowa Power Cooperative under the same terms as with Google.
Google and Nextera Energy have also signed an agreement to explore the development of new nuclear power generation projects. Currently, Nextera Energy has completed nearly 3,000 megawatts of energy projects in collaboration with Google in the United States. After hours trading, Nextera Energy's stock price rose by as much as 3.5%. As of the time of writing, the stock was up 2.29% in after-hours trading

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Nextera Energy plans to restart the Duane Arnold Energy Center nuclear power plant in Iowa to meet the electricity demand of Google's data center. The nuclear power plant is expected to begin supplying power in 2029, with an installed capacity of 615 megawatts. This move reflects strong demand for baseload power and zero-emission electricity, as technology companies are actively seeking clean energy solutions

- New Era Energy (NEE.US) plans to restart the Duane Arnold Energy Center in Iowa to supply power primarily to Google's (GOOGL.US) data center, expected to begin in 2029.  
- The 615-megawatt nuclear plant was shut down in 2020, and the demand for clean, continuous power from data centers is reshaping the energy sector.  
- New Era Energy has agreed to sell power to Google for 25 years and is also exploring new nuclear energy projects together, with the company's stock rising by 2.29% after hours.

Zhitong

Google will purchase Nextera Energy to restart nuclear power plants to supply power for AI data centers