NextDC profits slashed as power delays hit Melbourne data centre expansion
NextDC requested a trading halt and cut forecasts after power delays; nine data centre projects worth five billion dollars await approval.
NextDC requested a trading halt after power delays at its West Footscray centre. The company must cut profits and spending.
Its share price fell. Nine data centre projects worth five billion dollars await approval before Tuesday, when election rules begin.
A report found rule breaches and fake payments tied to these approvals. At least three projects will break a 150-metre buffer zone.
Local communities strongly oppose AI infrastructure. A proposed Spotswood data centre would use power equal to a regional city.
- At least five billion dollars
- Total project value
- 1.47 billion dollars
- Spotswood data centre cost
- Almost one billion dollars
- Stockland project value
- At least three projects
- Buffer zone breach
Why it mattersDelays to data centre approvals and power create uncertainty for a multi-billion dollar sector. NextDC's problems show broader challenges in building promised capacity.
AustraliaVictoria's tech industry expansion is stalling at a critical moment. Community backlash and power constraints may slow the state's data centre boom and affect electricity availability for other users.
✓ Claims checked against the source and corrected before publish. checked 2 h ago
