NextEra Energy (NEE) to Lead $22B Project Star Energy Initiative

NextEra Energy (NEE) and partners were chosen to develop a $22B Texas power plant, Project Star, with 6.47 GW capacity for data centers, per U.S. Commerce Dept. and South Korea.

NextEra Energy has been selected for a $22.3 billion energy infrastructure project in Texas, according to the company. The project involves the development of a large-scale energy infrastructure campus. NextEra Energy's stock is currently trading at $75.74, with a 5-day change of -0.20%.

South Korea and the US selected a $22.3B Texas gas-fired power plant (Project Star) as the first project under Seoul's $350B US investment commitment. The plant, led by Related Companies and NextEra Energy, will supply AI data centers. Other projects include $120B for nuclear reactors and a potential $50B Alaska LNG project. Investments are structured with safeguards and risk-pooling arrangements.

Related Companies and NextEra Energy Resources (NYSE:NEE) plan a $22B natural gas power plant in Texas, partnering with Lewis Energy Group. The facility, part of Project Star, will support a 5 GW data center and supply excess power to the grid, creating jobs and aligning with state directives. Initial operations may start in 2029, pending approvals.

NextEra Energy (NEE), Related Companies, and Lewis Energy Group will develop Project Star, a $22.3B energy infrastructure campus in Texas. It will provide 6.47GW of natural gas generation, supporting a 5GW data center and supplying excess power to the grid. Initial generation is expected by 2029, pending approvals.

The U.S. Department of Commerce and South Korea are investing $22.3B in Project Star, a Texas energy infrastructure campus. Developed by Related Companies, NextEra Energy, and Lewis Energy, it will generate 6.47 GW of natural gas power, supporting a 5 GW data center and feeding excess energy to the grid. The project, part of a U.S.-Korea trade deal, aims to create jobs and strengthen energy independence.