** Renewable energy company NextEra Energy NEE.N is teaming up with turbine maker GE Vernova GEV.N to develop natural gas power projects in the U.S., primarily for AI data centers and other large electricity users
** NEE reported quarterly revenue of $5.39 billion, missing analysts' average estimate of $7.07 billion, according to data compiled by LSEG
POWERING UP FOR THE LONG HAUL
** Morgan Stanley ("overweight," PT: $94) says NextEra has highly competitive development capabilities and significant experience in building gas plants
** " ... access to turbines from GEV could meaningfully enhance its competitiveness in addressing data centers and other large load customers that require 24x7 power" - Morgan Stanley
** Wolfe Research ("outperform," PT: $88) says that after the partnership, NEE should be well-positioned in terms of turbine access and cost
** BofA Global Research("neutral," PO: $74) says it's unlikely that gas development could fill in for any interim lapse in near-term renewable development
** "Partnership terms remain vague, and NEE itself expects new gas deployment could deploy at earliest around 2030" - BofA
** Guggenheim ("buy," PT: $89) expects GE partnership to enhance NEE's ability to meet diverse energy demands and reinforce its strategic positioning in the energy market
(Reporting by Rashika Singh in Bengaluru)
((rashika.singh@thomsonreuters.com))
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