DTE lifts five year plan to $44 billion on data center load

DTE Energy has agreed to sell its non-utility DTE Vantage business for approximately $3 billion to institutional investors advised by J.P. Morgan Asset Management’s Global Infrastructure group, in a deal expected to close in the first half of 2027, and has lifted its five year utility investment plan by nearly $10 billion to approximately $44 billion. DTE Electric accounts for about $39 billion of the total, including roughly $23 billion for generation, covering 7.6 gigawatts of new solar and wind, 2.1 gigawatts of new combined cycle gas capacity and 2.7 gigawatts of storage, plus about $12 billion for the distribution system.

The increase is anchored by data center load. DTE has fully secured 2.4 gigawatts: 1.4 gigawatts for an Oracle project in Saline Township, developed with Related Digital and OpenAI and now under construction, and 1 gigawatt for a Google campus in Van Buren Township whose 20 year contract was approved last month. A further 5 to 6 gigawatts of potential data center load is in the pipeline, about 2 gigawatts of it in advanced discussions. Third quarter earnings were $470 million, or $2.25 per diluted share, and the company confirmed operating earnings guidance of $7.59 to $7.73 per share for 2026.