Exxon Mobil (XOM) and NextEra Energy's (NEE) Energy Resources unit are collaborating to develop carbon-abated, gas-fired power generation projects to serve large electricity loads, NextEra Energy said in its presentation to investors Monday.
The companies plan to initially build a 1.2-gigawatt facility that they will market to hyperscalers, NextEra said.
About 2,500 acres of land have been secured for the project, with the initial proof-of-concept site located near Exxon's Denbury carbon dioxide pipeline, gas supply, and transmission, NextEra said.
Price: 115.57, Change: -0.98, Percent Change: -0.84
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments