Brookfield and NextEra Energy announced a $100 billion joint venture to develop a megaproject AI data center campus in Kentucky, representing one of the largest infrastructure investments in the sector.

NextEra Energy, Brookfield, and other companies are developing a $100 billion data center campus at a former uranium enrichment site in Paducah, Kentucky, the companies announced on Wednesday.

Soaring U.S. electricity demand is pushing companies to invest heavily in artificial intelligence data centers and other technologies that are straining the nation's aging electric grid.

NextEra, the largest U.S. utility, will deliver 2 gigawatts of natural gas-fired power and 2.6 GW of battery storage capacity to support the data center, while Brookfield will own and operate the 1.8 GW campus.

One gigawatt can power approximately 750,000 homes.

The campus will be located on the Department of Energy's Paducah Site, originally constructed in 1952 to produce enriched uranium before later being shuttered.

NextEra said the project fulfills the Trump administration's "Ratepayer Protection Pledge," which seeks to ensure that companies building and using data centers pay above and beyond normal rates so that costs are not passed on to average households.

"The Department of Energy Paducah Site will be the seed of our plan to invest $100 billion in AI infrastructure," said Brookfield CEO Bruce Flatt.

The project is expected to be completed by 2032.