Neighbourhood’s win wipes billions off company’s value

It’s a win for the little guys.

Residents fighting a huge expansion to a mega data centre in their suburb have had those plans put on hold.

They hope it’s for good - that’s yet to be seen.

But their win and the resultant delay has wiped close to $3 billion off the company’s value.

Watch the full story in the video player above.

Statement from the Victorian government

We back the jobs and investment data centres bring – and we’re putting the right guardrails in place as the industry grows.

Our plan will require future developments to consult and contribute to local communities and bring their own power generation.

Statement from NEXTDC spokesperson

NEXTDC respects the concerns raised by local residents about our M3 facility and the associated electricity network upgrades.

The power poles form part of Jemena’s 66kV electricity network upgrades. Jemena is responsible for community consultation and the approvals relating to those works.

NEXTDC supports and respects that process.

We will continue working with Jemena, the Maribyrnong City Council and other stakeholders on these matters.

Any works must proceed safely and with the required approvals.

NEXTDC has separate responsibilities for engagement about the M3 facility and activities at the site.

We have dedicated community engagement staff and provide updates on site activities.

We are strengthening this through an M3 community engagement plan, overseen by the Board.

We will continue listening to residents and responding to their concerns.