NextDC shares plunge following Melbourne power supply delays

NextDC M3 Melbourne data centre Jemena infrastructure delays

NextDC shares fell by approximately 40 per cent, reaching an eight-year low, after the company announced significant delays to its M3 data centre project in West Footscray, Melbourne. The company slashed its fiscal 2027 guidance, reducing net revenue forecasts to between A$475 million and A$500 million and underlying EBITDA guidance to between A$245 million and A$265 million.

The delays stem from the suspension of electricity network works by Jemena Electricity Networks (Vic) Ltd. Jemena halted the installation of 66kV power poles due to community and stakeholder opposition, as well as a lack of consent from the local council. Jemena does not expect to resume work before February 2027.

Additionally, planning decisions for M3 Stages 6 and 7 are expected to be delayed until after the Victorian state election on November 28, 2026. To manage cash flow, NextDC has revised its FY27 capital expenditure guidance to between A$4,500 million and A$5,000 million and is exploring the sale of certain development sites.

Entities

ASX · Jemena · Jemena Electricity Networks (Vic) Ltd · M3 Melbourne · Melbourne · NEXTDC Limited · NextDC · Victorian Government · West Footscray

Claims

What the coverage asserts, and how many sources carry each claim.

[● 5 SOURCES] The next increase in grid supply to the M3 Melbourne data centre is now expected in FY28. www.webdisclosure.com · www.finanzen.at · www.perthnow.com.au · www.edigest.hk · www.arnnet.com.au
[● 2 SOURCES] NEXTDC reported A$8,675 million of liquidity as of September 30, 2026. www.webdisclosure.com · www.finanzen.at
[● 5 SOURCES] Jemena Electricity Networks (Vic) Ltd suspended electricity network works due to community and stakeholder opposition. www.webdisclosure.com · www.finanzen.at · www.proactiveinvestors.com.au · www.perthnow.com.au · www.arnnet.com.au
[● 3 SOURCES] The Victorian Government’s planning decision on M3 Stages 6 and 7 is expected after the November 28, 2026, state election. www.webdisclosure.com · www.finanzen.at · www.arnnet.com.au
[○ 1 SOURCE] The M3 facility in West Footscray is planned to provide 225 megawatts of capacity. www.proactiveinvestors.com.au
[● 4 SOURCES] NEXTDC revised its FY27 underlying EBITDA guidance to A$245 million to A$265 million. www.webdisclosure.com · www.finanzen.at · www.edigest.hk · stockhead.com.au
[● 4 SOURCES] NEXTDC revised its FY27 net revenue guidance to A$475 million to A$500 million. www.webdisclosure.com · www.finanzen.at · www.perthnow.com.au · stockhead.com.au
[● 5 SOURCES] NEXTDC revised its FY27 capital expenditure guidance to A$4,500 million to A$5,000 million. www.webdisclosure.com · www.finanzen.at · www.perthnow.com.au · www.edigest.hk · stockhead.com.au