Utility Dive•4 days ago
Evergy’s capital spending plan jumps 24%, to $21.6B, driven by generation
Key Takeaway
Massive capital expenditure by utilities, driven by large tech company demand, creates significant opportunities for new generation development and PPA agreements for IPPs and developers.
AI Summary
- •Evergy is significantly increasing its capital spending plan by 24% to $21.6B, primarily driven by the need for new generation capacity.
- •The utility has secured 1.9 GW in new electric service contracts with major tech companies, including Google, Meta, and Beale Infrastructure, with additional contracts anticipated.
- •This surge in demand from large power consumers, particularly datacenters, signals substantial opportunities for IPPs and developers to supply new generation projects and secure long-term PPAs.
Topics
datacenterfinancingppa