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Released July 29, 2024 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--NextEra Energy Incorporated (NYSE:NEE) (Juno Beach, Florida) added 3,000 megawatts (MW) of new renewables and storage projects to its backlog in the second quarter--about 30% of which is designed to support data-center power demand from tech giant Google, a subsidiary of Alphabet Incorporated (NASDAQ:GOOGL) (Mountain View, California).

NextEra is composed of its NextEra Energy Resources (NEER) merchant clean energy business and its Florida Power & Light (FPL) electric utility.

"This quarter's backlog additions include 860 megawatts signed with Google to support their data center needs," Brian Bolster, chief financial officer of NextEra, said in the company's third-quarter earnings conference call. NextEra did not provide any further details or name any specific projects related to the Google backlog.

"That brings our total renewables portfolio with technology and data center customers, including assets in operation and in backlog, to 7 gigawatts [GW]," Bolster added.

For more information on Google's data-center development, see July 17, 2024, article - Google's Data-Center Boom Clashes with Environmental Efforts.

On the conference call, NextEra Chief Executive Officer Rebecca Jones Kujawa said data centers are interested in clean-energy generation such as wind, solar and battery storage. "I want to make sure these resources are there to support my data centers as they are getting connected to the utilities in those local jurisdictions and can come online at the same time."

For more information on data-center growth in the U.S. and its effect on power demand, see June 27, 2024, article - IIR Webinar: Rapid Growth in Data Center & Semiconductor Sectors Brings Strong Spending, New Challenges, and June 7, 2024, article - EPRI Report Sees Dramatic U.S Electric Demand Growth from Data Centers.

Google has power purchase agreements (PPAs) in place to offtake power from three of NextEra's renewable-energy facilities in Arizona: the operational Sonoran Solar Energy Center and Storey Energy Center, and the under-construction Babbitt Ranch Energy Center near Flagstaff. Babbitt Ranch consists of a 161-MW windfarm that is expected to be operational in early 2025, while a corresponding solar plant and battery-energy storage system (BESS) are expected to wrap up in late 2025 and 2027, respectively. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can learn more by viewing the project reports on the wind, solar and battery portions of the project.

Industrial Info is tracking billions of dollars' worth of projects attributed to NextEra, including two solar projects under construction that will utilize photovoltaic (PV) panels from First Solar Incorporated (NASDAQ:FSLR) (Tempe, Arizona). NextEra's $250 million Forgeview solar project in Blytheville, Arkansas is designed to provide up to 200 MW of solar generation, and the Cherrywood solar project in Caroline County, Maryland is designed to generate up to 145 MW. The projects are expected to wrap up in late 2025 and mid-2025, respectively.

Subscribers can read more information on the Forgeview and Cherrywood projects.

Among NextEra's BESS projects under construction is its 300-MW/1,200-megawatt-hour (MWh) $380 million BESS addition next to its Desert Sunlight solar farm in Riverside County, California, which brings the total storage capacity to 530 MW. Construction is expected to wrap up in October. Subscribers can read the Desert Sunlight project report.

Also underway is a repower project at the Landgon Windfarm II in Osnabrock, North Dakota. The project entails replacing old turbines from General Electric (NYSE:GE) (Boston, Massachusetts) with 42 MW worth of new GE turbines. Click here to read the project report.

NextEra's Florida Power & Light (FPL) utility provides power to about 5.8 million customers, or more than 12 million people across Florida. In the most recent earnings press release, NextEra said FPL's capital expenditures registered about $2.1 billion for the second quarter, and full-year capital spending is expected to be between $8 billion and $8.8 billion. All of FPL's solar projects being tracked by Industrial Info are on a smaller scale, each providing less than 75 MW of generation.

Industrial Info is tracking 86 active and planned projects, worth about $7 billion, from FPL, more than half of which are for solar power. Click here for a full list of solar projects.

Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).

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