NextEra Energy announced plans on Monday to acquire Dominion Energy in an all-stock deal valued at about $67 billion, creating a massive power company as electricity demand rises in the U.S. with artificial intelligence and data center expansion.
It is one of the biggest proposed mergers so far this year and will create the world's biggest regulated electric utility business by market capitalization, the companies said.
The combined company will serve approximately 10 million utility customer accounts across Florida, Virginia, North Carolina and South Carolina.
Dominion, based in Richmond, Virginia, helps to power hundreds of data centers across the state. It also provides regulated electricity service to 3.6 million homes and businesses in Virginia, North Carolina, and South Carolina, and regulated natural gas service to 500,000 customers in South Carolina.
Juno Beach, Florida-based NextEra owns Florida Power & Light Company, which provides electricity to about 12 million people across the state. In December, NextEra and Google Cloud announced that they were expanding their existing partnership to build new data center campuses across the U.S.
