Data centre developer's shares crash after backlash

Key points

• Shares of NextDC, Australia's largest listed data centre developer, fell 40.2 per cent to an eight-year low of $5.48 in early trading on Wednesday. The company said community opposition led power operator Jemena to suspend electricity grid work at its M3 data centre in West Footscray.
• Jemena has told NextDC it does not intend to resume work before February.
• NextDC has removed the affected M3 contracts from its 2026/27 earnings guidance and plans to cut capital expenditure by $750 million.