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Billionaire climate-change activist Tom Steyer could spend $100 million in the 2014 midterm election season -- and maybe even more -- to help Democratic candidates, NBC News confirms.

Steyer's group, NextGen Climate Action, played a role in last year's close gubernatorial contest in Virginia, running TV ads like this one:

And in this election cycle, Steyer is already targeting Republican Florida Gov. Rick Scott.

"Is it going to take $100 million? I have no idea," Steyer told the New York Times, which first reported this story. "I think that would be a really cheap price to answer the generational challenge of the world."

Steyer is one of the biggest -- and wealthiest -- opponents of the politically charged Keystone XL pipeline.