NextEra Energy, U.S. Department of Commerce and Government of Japan finalize commercial terms; reach funding milestone for up to 10 GW of gas-powered generation

Today's announcement follows President Donald J. Trump's approval of the projects, which were selected in connection with Japan's $550 billion investment commitment to the United States as part of the U.S.-Japan trade agreement, in March.

This major milestone releases the first tranche of funding for the two projects, which will be used for a variety of development activities, including down payments on long-lead equipment, to include turbines and selection of engineering, procurement and construction contractors. In partnership with the Administration and the Government of Japan, these funds are expected to enable NextEra Energy to deliver reliable, large-scale power infrastructure that supports America's economic growth and technical leadership in a manner consistent with the White House's Ratepayer Protection Pledge.

A word from U.S. Secretary of Commerce Howard Lutnick: "Today's announcement is yet another example of how President Trump's trade agenda is putting the needs of American families first. The initial $3.3 billion investment will commence the building of the facilities needed to bring up to 10 gigawatts of natural gas power to Texas and Pennsylvania communities, lowering energy prices for families and creating thousands of high paying jobs."

A word from John Ketchum, chairman, president and CEO of NextEra Energy: "NextEra Energy's hub strategy was designed for this moment and reflects more than 18 months of strategically positioning our business to capture 'bring your own generation' opportunities. By pairing large-load demand with dedicated generation, we can move quickly to support the growth of critical digital infrastructure while ensuring the costs are not borne by American homes and businesses. The Texas and Pennsylvania projects represent two of the over 30 energy hubs in various stages of development in our portfolio. We look forward to continuing to work with the Department of Commerce and the Government of Japan to advance these important projects."

A word from U.S. Senator Ted Cruz: "Texas leads America and therefore the world in providing reliable, affordable energy. This investment in new natural gas generation, developed by NextEra Energy, will advance manufacturing, drive our economy and help ensure Texas remains at the forefront of American energy dominance. I congratulate them on being a part of this important investment, solidifying the energy future of Texas and the country." 

A word from U.S. Senator Dave McCormick: "The Mon Valley region built the steel that built America. Now it's going to build the power that fuels America's future. The $17 billion South Mon project is historic, bringing 4.3 gigawatts of reliable natural gas generation, thousands of jobs in construction and the trades and proof that the communities that powered our past will power our future too. Pennsylvania has the gas, the workforce and the grit to lead, and this project shows the world what energy dominance looks like." 

Powering America and protecting affordability: Supporting the goals of the White House's Ratepayer Protection Pledge, which NextEra Energy signed in July, the projects pair new generating resources with new electricity demand and ensure large-load customers pay their fair share.

Creating economic benefits for communities: The Texas and Pennsylvania hubs are expected to generate thousands of construction jobs and hundreds of permanent operating positions across both states, with hiring concentrated in skilled trades, engineering and plant operations. Beyond direct employment, the projects will drive significant local investment through supply chain spending and equipment procurement and promote small businesses within host communities.

Next steps: NextEra Energy will continue to advance project development in coordination with federal, state and local stakeholders, with initial resources expected to come online as early as the end of 2028 and the projects expected to be completed in 2032. The projects remain subject to applicable permitting and regulatory requirements, as well as completion of development, construction and commissioning activities. Additional details, including project configurations and timelines, will be shared as development advances.

About NextEra Energy

NextEra Energy, Inc. (NYSE: NEE) is the largest electric power and energy infrastructure company in North America and is a leading provider of electricity to American homes and businesses. Headquartered in Juno Beach, Florida, NextEra Energy is a Fortune 200 company that owns Florida Power & Light Company, America's largest electric utility, which provides reliable electricity to approximately 12 million people across Florida. NextEra Energy also owns one of the largest energy infrastructure development companies in the U.S., NextEra Energy Resources, LLC. NextEra Energy and its affiliated entities are meeting America's growing energy needs with a diverse mix of energy sources, including natural gas, nuclear, renewable energy and battery storage. For more information about NextEra Energy companies, visit these websites: www.NextEraEnergy.com, www.FPL.com, www.NextEraEnergyResources.com.

Cautionary Statements and Risk Factors That May Affect Future Results

This news release contains "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical facts, but instead represent the current expectations of NextEra Energy, Inc. (together with its subsidiaries, NextEra Energy) regarding future operating results and other future events, many of which, by their nature, are inherently uncertain and outside of NextEra Energy's control. Forward-looking statements in this news release include, among others, statements concerning future financing activities and statements concerning growth strategies, capital investment opportunities and technology initiatives. In some cases, you can identify the forward-looking statements by words or phrases such as "will," "may result," "expect," "anticipate," "believe," "intend," "plan," "seek," "potential," "projection," "forecast," "predict," "goals," "target," "outlook," "should," "would" or similar words or expressions. You should not place undue reliance on these forward-looking statements, which are not a guarantee of future performance. The future results of NextEra Energy and its business and financial condition are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, or may require it to limit or eliminate certain operations. These risks and uncertainties include, but are not limited to, those discussed in this news release and the following: effects of extensive regulation of NextEra Energy's business operations; inability of NextEra Energy to recover in a timely manner any significant amount of costs, a return on certain assets or a reasonable return on invested capital through base rates, cost recovery clauses, other regulatory mechanisms or otherwise; impact of political, regulatory, operational and economic factors on regulatory decisions important to NextEra Energy; effect of any reductions or modifications to, or elimination of, governmental incentives or policies that support clean energy or changes in or the imposition of additional tax laws, tariffs, duties, policies or other costs or assessments on clean energy or equipment necessary to generate, store or deliver it; impact of new or revised laws, regulations, executive orders, interpretations or constitutional ballot and regulatory initiatives on NextEra Energy; capital expenditures, increased operating costs and various liabilities attributable to environmental laws, regulations and other standards applicable to NextEra Energy; effects on NextEra Energy of federal or state laws or regulations mandating new or additional limits on the production of greenhouse gas emissions; exposure of NextEra Energy to significant and increasing compliance costs and substantial monetary penalties and other sanctions as a result of extensive federal, state and local government regulation of its operations and businesses; effect on NextEra Energy of changes in tax laws, guidance or policies as well as in judgments and estimates used to determine tax-related asset and liability amounts; impact on NextEra Energy of adverse results of litigation; impacts of NextEra Energy of allegations of violations of law; effect on NextEra Energy of failure to proceed with projects under development or inability to complete the construction of (or capital improvements to) electric generation, storage, transmission and distribution facilities, natural gas and oil production and transportation facilities and other facilities on schedule or within budget; impact on development and operating activities of NextEra Energy resulting from risks related to project siting, construction, permitting, governmental approvals and the negotiation of project development agreements, as well as supply chain disruptions; risks involved in the operation and maintenance of electric generation, storage, transmission and distribution facilities, natural gas and oil production and transportation facilities, and other facilities; effect on NextEra Energy of a lack of growth, slower growth or a decline in the number of customers or in customer usage; planned productivity increases and competitive advantages through the use of artificial intelligence technologies may not be realized and the use of and reliance on artificial intelligence may present certain risks; impact on NextEra Energy of severe weather and other weather conditions; threats of terrorism and catastrophic events that could result from geopolitical factors, terrorism, cyberattacks or other attempts to disrupt NextEra Energy's business or the businesses of third parties; inability to obtain adequate insurance coverage for protection of NextEra Energy against significant losses and risk that insurance coverage does not provide protection against all significant losses; a prolonged period of low natural gas and oil prices, disrupted production or unsuccessful drilling efforts could impact NextEra Energy's natural gas and oil production and transportation operations and cause NextEra Energy to delay or cancel certain natural gas and oil production projects and could result in certain assets becoming impaired; risk of increased operating costs resulting from unfavorable supply costs necessary to provide full energy and capacity requirements services; inability or failure to manage properly or hedge effectively the commodity risk within its portfolio; effect of reductions in the liquidity of energy markets on NextEra Energy's ability to manage operational risks; effectiveness of NextEra Energy's risk management tools associated with its hedging and trading procedures to protect against significant losses, including the effect of unforeseen price variances from historical behavior; impact of unavailability or disruption of power transmission or commodity transportation operations on sale and delivery of power or natural gas; exposure of NextEra Energy to credit and performance risk from customers, hedging counterparties and vendors; failure of counterparties to perform under derivative contracts or of requirement for NextEra Energy to post margin cash collateral under derivative contracts; failure or breach of NextEra Energy's information technology systems, or implementation challenges; risks to NextEra Energy's retail businesses from compromise of sensitive customer data; losses from volatility in the market values of derivative instruments and limited liquidity in over-the-counter markets; impact of negative publicity; inability to maintain, negotiate or renegotiate acceptable franchise agreements; occurrence of work strikes or stoppages and increasing personnel costs; NextEra Energy's ability to successfully identify, complete and integrate acquisitions, including the effect of increased competition for acquisitions; environmental, health and financial risks associated with ownership and operation of nuclear generation facilities; liability of NextEra Energy for significant retrospective assessments and/or retrospective insurance premiums in the event of an incident at certain nuclear generation facilities; increased operating and capital expenditures and/or reduced revenues at nuclear generation facilities resulting from orders or new regulations of the Nuclear Regulatory Commission; inability to operate any of NextEra Energy's owned nuclear generation units through the end of their respective operating licenses or planned license extensions; effect of disruptions, uncertainty or volatility in the credit and capital markets or actions by third parties in connection with project-specific or other financing arrangements on NextEra Energy's ability to fund its liquidity and capital needs and meet its growth objectives; defaults or noncompliance related to project-specific, limited-recourse financing agreements; inability to maintain current credit ratings; reduced liquidity from the inability of credit providers to fund their credit commitments or to maintain their current credit ratings; poor market performance and other economic factors that could affect NextEra Energy's defined benefit pension plan's funded status; poor market performance and other risks to the asset values of nuclear decommissioning funds; changes in market value and other risks to certain of NextEra Energy's assets and investments; effect of inability of NextEra Energy subsidiaries to pay upstream dividends, make distributions or repay funds to NextEra Energy or of NextEra Energy's performance under guarantees of subsidiary obligations on NextEra Energy's ability to meet its financial obligations and to pay dividends on its common stock; the fact that the amount and timing of dividends payable on NextEra Energy's common stock, as well as the dividend policy approved by NextEra Energy's board of directors from time to time, and changes to that policy, are within the sole discretion of NextEra Energy's board of directors and, if declared and paid, dividends may be in amounts that are less than might be expected by shareholders; effects of disruptions, uncertainty or volatility in the credit and capital markets on the market price of NextEra Energy's common stock; and the ultimate severity and duration of public health crises, epidemics and pandemics, and its effects on NextEra Energy's business. NextEra Energy discusses these and other risks and uncertainties in its annual report on Form 10-K for the year ended December 31, 2025 and other Securities and Exchange Commission (SEC) filings, and this news release should be read in conjunction with such SEC filings. The forward-looking statements made in this news release are made only as of the date of this news release and NextEra Energy undertakes no obligation to update any forward-looking statements.

View original content to download multimedia:https://www.prnewswire.com/news-releases/nextera-energy-us-department-of-commerce-and-government-of-japan-finalize-commercial-terms-reach-funding-milestone-for-up-to-10-gw-of-gas-powered-generation-302850106.html

SOURCE NextEra Energy, Inc.