Mentioned:
Google has an insatiable need for more electricity to power their ambitions in artificial intelligence. Which is exactly why they are aiming to restart a nuclear power plant in Iowa.
What’s happening:
- NextEra Energy (NYSE: NEE) has partnered with Google (NASDAQ: GOOG) to restart the historic Duane Arnold nuclear plant located in Iowa
Why it matters:
- The Duane Arnold nuclear plant is the only nuclear power plant to ever be operational in the history of Iowa and was capable of supplying enough electricity to power 400,000 homes annual when it was operating at full capacity
Going deeper:
- Google and NextEra Energy have entered into a 25 year power purchase agreement as part of the new partnership
- NextEra Energy has also publicly stated that they will collaborate with Google to explore more nuclear energy deployment opportunities throughout the United States
The fine print:
- The Duane Arnold nuclear plant is expected to take more than four years to reopen and will still ultimately require regulatory approval before being allowed to operate
