Yahoo Finance·2026-02-05 21:31Group 1: Strategic Agreements - Xcel Energy has entered into strategic agreements with GE Vernova and NextEra Energy to secure supply and development capacity for up to 6 GW of data center load, including five F-class gas turbines and multiple gigawatts of wind capacity [1][2] - The alliance with GE Vernova aims to support generation and grid projects into the 2030s, enhancing operational flexibility and cost affordability for Xcel Energy's customers [2][8] - The memorandum of understanding (MOU) with NextEra Energy focuses on co-developing generation, storage, and interconnections to serve data center projects, reflecting a long-standing partnership between the two companies [1][8] Group 2: Data Center Capacity and Growth - Xcel Energy has signed energy services agreements (ESAs) for over 2 GW of data center capacity, with a goal to reach 3 GW by the end of 2026 and 6 GW by the end of 2027 [10] - The company is pursuing large load tariff filings in multiple states to establish regulatory frameworks for data center contracting, with significant sales expected to ramp up in the 2029 to 2030 timeframe [10] - NextEra Energy is advancing discussions around data center "hub" developments, aiming to create scalable and cost-effective energy solutions for large load customers [8][9] Group 3: Manufacturing and Supply Chain - GE Vernova's gas power equipment backlog increased from 62 GW to 83 GW, driven by strong U.S. demand, with expectations to reach approximately 100 GW under contract by 2026 [3][4] - The company is expanding its manufacturing capacity significantly, adding over 200 new machines and nearly 1,000 production workers in 2025, with plans for further expansion in 2026 [7] - Pricing for current slot reservation agreements is running 10 to 20 points higher than existing backlog, indicating increased competition for gas turbine manufacturing capacity [4][5]