{
  "id": 15873724,
  "title": "Data centre developer's shares crash after backlash",
  "url": "https://urgent.news/2026/10/21/data-centre-developers-shares-crash-after-backlash",
  "topic": null,
  "section": null,
  "published": "2026-10-21T07:15:00.000Z",
  "source": {
    "name": "Discovered",
    "slug": "discovered",
    "url": "https://goulburnpost.com.au/story/9372672/data-centre-developers-shares-crash-after-backlash"
  },
  "original_language": "en",
  "account": "Shares of Australia's largest listed data centre developer, NextDC, have plummeted following a community backlash that threatens its flagship site development. As of Wednesday, NextDC's shares closed at $5.35, a 41.7% decrease from Tuesday, marking the lowest level since 2018. The company announced it would downgrade its guidance and cut expenditures due to the backlash.\n\nA power operator, Jemena, suspended work in September to boost the electricity grid supply to NextDC's M3 data centre near Melbourne. The suspension was due to safety concerns and difficulties accessing work sites, as the local council and community stakeholders opposed the work. Jemena has no plans to resume work before February, leading NextDC to cancel $140 million worth of M3 contracts in its 2026/27 earnings forecasts.\n\nTo cope with the financial hit, NextDC plans to slash its capital expenditure for 2026/27 by $750 million, between $4.5 billion and $5 billion. The M3 site, which has been operational since 2022, spans 41,000 square meters, equivalent to eight downtown city blocks. NextDC also faces delays in the expansion project, potentially delaying contracts for 2027/28 due to the installation of new transformers at the Brooklyn Terminal Station taking longer than anticipated and a pending Victorian government planning permit. Analyst Tom Beadle from RBC Capital Markets noted that while these delays are beyond NextDC's control, community concerns surrounding data centre developments pose a real risk to contracted capacity for data centre owners.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}