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Australia's largest datacentre operator NextDC's shares dive as Melbourne expansion delayed
Australia's largest data centre operator has delayed the expansion of its M3 site in Melbourne's west after electricity provider Jemena paused work on new twenty-two metre power poles. NextDC told the Australian Stock Exchange the upgrade is essential for increased power supply, but community opposition, safety concerns and missing local council approval forced the suspension. The expansion will now be pushed back to the twenty-seven or twenty-eight financial year. NextDC cut its net revenue guidance to between four hundred and seventy-five million and five hundred million dollars, down from a range of six hundred and fifteen million to six hundred and forty million dollars. The company says it is examining alternatives including underground connections or pole routes through industrial zones. Construction of the data halls continues, but a state planning decision on later stages is not expected before February twenty-seven.
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Australia's largest datacentre operator NextDC's shares dive as Melbourne expansion delayed
Australia's largest data centre operator has delayed the expansion of its M3 site in Melbourne's west after electricity provider Jemena paused work on new twenty-two metre power poles. NextDC told the Australian Stock Exchange the upgrade is essential for increased power supply, but community opposition, safety concerns and missing local council approval forced the suspension. The expansion will now be pushed back to the twenty-seven or twenty-eight financial year. NextDC cut its net revenue guidance to between four hundred and seventy-five million and five hundred million dollars, down from a range of six hundred and fifteen million to six hundred and forty million dollars. The company says it is examining alternatives including underground connections or pole routes through industrial zones. Construction of the data halls continues, but a state planning decision on later stages is not expected before February twenty-seven.