NextEra Energy Announces Two Agreements with Google for Nuclear Energy Deployment in the U.S.

NextEra Energy has announced two agreements with Google to strengthen the U.S. nuclear leadership and meet growing energy demand from artificial intelligence (AI) with clean, reliable nuclear energy.

The basis of this collaboration is the planned restart of the 615-MW Duane Arnold Energy Center (Duane Arnold), Iowa's nuclear facility located in Palo, near Cedar Rapids. Once operational, Google will purchase power from the plant as a 24/7 carbon-free energy source to help power Google's growing cloud and AI infrastructure in Iowa, while also strengthening local grid reliability, creating direct and indirect jobs, and driving economic investment to the Midwest region.

With Google's 25-year agreement to purchase carbon-free nuclear energy from the Duane Arnold plant, one of the plant's current minority owners, Central Iowa Power Cooperative (CIPCO), will purchase the remaining portion of the plant's output on the same terms as Google. NextEra Energy has signed agreements to acquire CIPCO and Corn Belt Power Cooperative's combined 30% interest in the plant, which will bring NextEra Energy's ownership to 100%.

Duane Arnold, which was closed in 2020, is expected to be operational and deliver electricity onto the grid by Q1 2029, depending on regulatory approvals to restart the plant.

The power purchase agreement with Google enables the investment to restart the plant and covers costs for the production of energy from Duane Arnold. Restarting the plant will increase generation capacity for the region, and energy customers in Iowa will not abide to any costs associated with the power Google purchases from the facility.

NextEra Energy's investments in nuclear and advanced generation help Google to deploy AI to grow the American economy, create jobs, accelerate scientific advances, improve health and educational outcomes, and strengthen national and global security. NextEra Energy and Google have also signed an agreement to explore the development of new nuclear generation to be deployed in the U.S., which is expected to help power America's growing electricity needs.

Currently, NextEra Energy has about 3 GW of energy projects executed with Google across the country.

According to a economic study, the recommissioning of Duane Arnold is projected to generate substantial economic benefits, including:

Across Iowa:

· More than 1,600 direct, indirect and induced jobs during the plant's construction.

· More than $340 million in annual economic output during operations.

In Linn County:

· More than 800 direct, indirect and induced jobs during the plant's construction and approximately 400 direct, full-time jobs during operations.

· Local total earnings during construction of more than $89 million and local long-term earnings of more than $127 million.

· More than $320 million in annual economic output during operations.

· An average of $3 million in annual tax revenue to support schools, infrastructure and fire-rescue services.