NextEra Energy (NEE) is in advanced talks to acquire closely-held gas retail platform Symmetry Energy Solutions for ~$800 million, in a deal that could be announced within weeks, Bloomberg reported Friday.
Symmetry, which supplies more than 5,500 commercial and industrial consumers in 34 states and has agreements to store and move gas across U.S. pipelines, would build out NextEra’s (NEE) natural gas capabilities, according to the report.
The ability to move gas easily is becoming more critical as the AI boom takes off, with gas emerging as the top fuel to produce power thanks to the shale boom that turned the U.S. into the biggest producer and exporter of the fuel.