“We now have 4 origination channels feeding into our base case goal of securing 15 gigawatts of new generation to serve large load by 2035.”

In context

“y Resources to build 9.5 gigawatts of new gas-fired generation to serve large load. The projects are in connection with Japan's $550 billion investment commitment to the United States as part of the U.S.-Japan trade deal. These are 2 separate projects, 1 located in Texas, and the other located in Pennsylvania. Both are designed to serve large load in each state. The U.S. and Japan would own the projects while Energy Resources would develop, build and operate them. We are actively developing both projects, advancing site development, procurement, permitting and commercial structuring as we work toward definitive agreements with the U.S. and Japan. The projects are drawn from our existing group of data center hubs, a group that totals over 30 hubs with a year-end goal to secure roughly 40. We now have 4 origination channels feeding into our base case goal of securing 15 gigawatts of new generation to serve large load by 2035. These 4 origination channels can also help us achieve our upside case of 30 gigawatts or more by 2035. We are working hard to meet this goal with all forms of energy, approximately 50% from gas-fired generation and the remainder from all other forms of energy. The first channel is working directly with hyperscalers to power their data centers. These are companies we have good, long-standing relationships with. A great example is our collaboration with Google to recommission our Glenora nuclear plant outside Cedar Rapids, Iowa. Our second channel is working with investor-owned utilities. A perfect example is the joint development agreement, which we signed with Excel earlier this week to jointly plan and rapidly deploy new generation, storage and transmission to capture accelerating data c”