NextEra Secures US$1.90 Billion DOE Loan to Restart Duane Arnold Nuclear Plant

Strengthen Power Corporation Public Company Limited, or SSP, has announced a goal to double its asset size within the next 3-4 years. Chayut Leehajaroenkul, Chief Financial and Accounting Officer, disclosed on the Thanhoon Thangame program that the company has a portfolio of power plants in commercial operation and under development with total capacity in hand of more than 340 megawatts, and projects in hand totaling 800 megawatts. The company sees the draft Power Development Plan of Thailand, or PDP 2026, which sets a target of approximately 50,000 megawatts of generating capacity, as a major opportunity, as the new capacity in the draft plan is more than 100 times larger than the company's existing investment portfolio. If the conditions become clear and official, SSP is ready to consider raising its long-term total capacity target from 1,000 megawatts by 2033. On overseas investment, the company is in the process of investing in a 150-megawatt offshore wind power project in the Philippines, and is advancing a capital recycling model by selling the Yamaga power plant in Japan, which was invested at 500 million baht, returning 1 billion baht in cash. It will recognize an extraordinary profit and cash flow in the third quarter of 2026, helping to reduce the IBD/E ratio to approximately 2 times and opening room to safely move up to 3 times.

IREN is trading at $47.23, roughly 41% below the mean analyst target of $80.21, as the company works to convert a pre-secured power portfolio into contracted revenue. The company holds more than 5 gigawatts of announced power across Texas, British Columbia, Oklahoma, Spain, and South Australia, anchored by a $9.7 billion AI Cloud contract with Microsoft and a $3.4 billion five-year deal with NVIDIA, yet less than 10% of that 5-gigawatt portfolio is monetized. Management says $4 billion of ARR is contracted for 2026 capacity, with $1 billion already operating, and three-year contract pricing is up about 125% since November, with recent deals above $20 million per megawatt of IT load and active talks near $25 million per megawatt. IREN posted a $684 million net loss on $137.2 million of Q4 revenue that missed estimates and fell 26.75% year over year, while adjusted EBITDA fell from $59.5 million in Q3 to $19.2 million, and FY27 capex is guided at $25 to $30 billion. Consensus FY27 EPS has fallen from negative $0.94 ninety days ago to negative $3.92, and the balance sheet carries $11.60 billion of liabilities against $4.19 billion of equity, making March-quarter revenue the pivotal test of the contracted ARR story.

Constellation Energy's Equivalent Forced Outage Factor rose to 6.2% in the second quarter of 2026 from 4.5% in the first quarter, a combined measure across its natural gas, oil and pumped-storage hydro fleet following the January 2026 acquisition of Calpine. The company said the 6.2% figure covers multiple generation technologies and should not be compared directly with benchmarks for a single plant technology. Constellation also reported a 93% nuclear capacity factor in the second quarter of 2026, excluding Salem and South Texas Project, along with a 96% renewable energy capture rate. The Zacks Consensus Estimate for 2026 and 2027 EPS indicates an increase of 29.82% and 8.76%, respectively, year over year, while Constellation's trailing-12-month ROE is 14.89% against an industry average of 7.15%. In the past three months, the company's shares have plunged 2.7% compared with the industry's 8.8% fall, and CEG currently carries a Zacks Rank #3 (Hold).