Google signs 25-year deal to buy power from a restarted Duane Arnold; NextEra moves to full ownership

NextEra Energy/Duane Arnold restart

NextEra and Google agreed that Google will buy the output of the restarted Duane Arnold plant for 25 years to power its cloud and AI operations in Iowa, with restart targeted for the first quarter of 2029. NextEra also agreed to buy the 30% stake held by two Iowa power cooperatives, taking it to 100% ownership. A second agreement has the two companies exploring new nuclear plants in the US.

• Target: back online in Q1 2029, about 615 MW
• CIPCO buys the remaining output on the same terms as Google
• NextEra buys CIPCO's and Corn Belt Power's combined 30% stake
• Separate Google-NextEra pact to explore building new US nuclear generation