US power provider NextEra Energy is considering expanding its nuclear fleet to support the growing electricity demand from data and is in advanced discussions to power an additional 9 GWe of the server warehouses. In 2025, NextEra announced plans to restart its Duane Arnold nuclear power generating station in Iowa by 2029 supported by a power purchase agreement from Google.
NextEra Energy operates seven nuclear units across four primary sites in Florida, New Hampshire, and Wisconsin through its subsidiaries, Florida Power & Light Company (FPL) and NextEra Energy Resources (NEER). The NEER plants include Seabrook Station, (New Hampshire), Point Beach (Wisconsin) and Duane Arnold Energy Center by 2029. The FLP plants are St Lucie, and Turkey Point, both in Florida.
Speaking during a call with investors following the release of fourth quarter 2025 financial results, NextEra CEO John Ketchum said its NextEra Energy Resources subsidiary “remains focused on both optimising and adding generating capacity to its nuclear fleet. We continue to advance the recommissioning of our Duane Arnold nuclear plant in Iowa, made possible by the 25-year power purchase agreement with Google we announced last year.
He added: “Our nuclear fleet outside Florida is also ripe for advanced nuclear development…. That’s why we are spending time closely evaluating the capabilities of various SMR OEMs [small modular reactor original equipment manufacturers]. All told, we have 6 GWe of SMR co-location opportunities at our nuclear sites and are working to develop new greenfield sites. Of course, any nuclear new build would have to include the right commercial terms and conditions with appropriate risk-sharing mechanisms that limit our ultimate exposure.”
In reply to a question during the call the NextEra had done a lot of work with respect to the OEMs and had done “deep dives” on technology commercial assessment. “And, you know, we have a very good feel… as to who may make sense to advance discussions with there”. However, he noted that “partnering is not something … we’ve historically done”.
He added: “We like to create competition, you know, amongst our suppliers unless one particular supplier has concentration in a specific area or has a unique technology offering, and we can enter into an attractive… long-term… pricing arrangement that creates win-wins. But… we’re always careful about locking ourselves in with just one counterparty.” However, he added that advancing on SMRs, is something the company was taking very seriously. “We have … a part of our development organisation that is focused 100% on SMRs.” He confirmed that as well as existing NPP sites “we’re also looking at greenfield opportunities as well and how an SMR could fit into a long-term solution around a data centre hub”. He stressed again the importance of the right commercial terms and conditions “where there’s appropriate risk sharing, capping on financial exposure, because we’re gonna be very prudent and careful how we approach that market”. Nevertheless, NextEra is excited about the potential.
As to hyperscalers teaming up with one specific OEM he said it was still a question of seeing who has a viable solution and that it would also involve discussions with the government. “I mean, it’s gonna take four parties coming together to come up with the right structure that makes sense, but it’s something we’re very focused on.”
Asked what he thought about government support for SMRs, Ketchum noted: “I think the administration is doing all the right things.… I mean, they are really trying to enable American energy dominance across the board.” He said he was excited about many of the programmes that are being developed. “I think that just those programmes that they’ve already established create the opportunity for that four-way discussion… in a very constructive way.” But more work needs to be done. “So it’s up to developers and OEMs and customers to come together to work with the government on the right framework.”
