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Researched by Industrial Info Resources (Sugar Land, Texas)--Florida-based power utility holding company NextEra Energy Incorporated (NYSE:NEE) (Juno Beach) has instituted a pandemic plan that was updated last year, executives said Wednesday. To date, the company's construction projects and nuclear refueling outages remain on budget and on schedule. NextEra is underway with several wind and solar power installations as well as the construction of a grassroot natural gas-fired plant in Florida.
In the company's earnings conference call, Chief Executive Officer Jim Robo said, "Our engineering and construction team continues to perform exceptionally well, keeping the largest construction program in NextEra Energy's history on schedule and on budget." Robo said the company had recently completed two nuclear refueling outages, one of which was one of the shortest in 20 years, and was progressing with refueling outages at its Turkey Point and Seabrook plants, in Florida and New Hampshire, respectively. For more information, see Industrial Info's project reports on the Turkey Point and Seabrook outages.
Robo also said the company's renewable energy projects also were progressing: "2020 wind turbine deliveries remain ahead of schedule, and we're not currently experiencing any significant equipment or labor issues at any of the more than 5,000 megawatts (MW) of wind and solar projects that we expect to complete this year."
Among the renewable energy projects that NextEra expects to complete this year is the 300-MW Soldier Creek Windfarm near Seneca, Kansas, which will use 120 2.5-MW wind turbines. Construction began in the first quarter of this year and is expected to be completed in the third quarter. For more information, see Industrial Info's project report.
Also on track for completion this year is the 150-MW Two Creeks photovoltaic solar plant near Two Rivers, Wisconsin, on the shore of Lake Michigan. The facility will use approximately 533,000 monocrystalline solar modules on a single-axis tracking system and will include a battery-energy storage system. Construction began last summer and is expected to be completed by the end of the year. or more information, see Industrial Info's project report.
The company also continues adding to its renewable backlog. In the just-passed quarter, NextEra Energy Resources added 1,590 MW in projects to its backlog, including 600 MW for wind for 2022 and beyond, 420 MW of solar and 457 MW of battery storage, most of which will be added to existing solar sites. It also added 113 MW of wind repowering projects.
While NextEra is constructing throughout the U.S., its major footprint is in its home state of Florida, through primary subsidiary Florida Power & Light (FPL) (Juno Beach). Chief Financial Officer Rebecca Kujawa said that current plans project "an approximately 70% increase in the amount of zero-emission electricity that is generated in 2029 relative to 2019 as a result of FPL's continued rapid expansion of solar energy through the execution of its '30-by-30' plan," which entails installing more than 30 million solar panels in Florida by 2030. "By the end of this decade," said Kujawa, "FPL projects it will have more than 10,000 MW of installed solar capacity."
Kujawa said, "Despite the challenges presented by the COVID-19 pandemic, all of FPL's major capital projects remain on track and on budget," including 750 MW of solar projects that are to be placed in service in the remainder of this year. Examples of these projects include the 74.5-MW Union County solar energy center near Lake Butler, Florida, in the north of the state. The plant will use 333,000 First Solar (NASDAQ:FSLR) (Tempe, Arizona) thin-film photovoltaic panels on a single-axis tracking system. Black & Veatch Incorporated (Overland Park, Kansas) is providing engineering, procurement and construction (EPC) on the project, which is expected to be completed late this year. For more information, see Industrial Info's project report.
Among FPL's largest projects is the 1,200-MW Dania Beach Clean Energy Center, a combined-cycle plant in Fort Lauderdale, Florida. Kujawa said the project, which began construction last year, was on schedule and on budget for its targeted in-service date of 2022. Black & Veatch also is providing EPC services for the project, which has an estimated total investment value of $888 million. For more information, see Industrial Info's project report.
Kujawa said FPL's capital expenditures in the first quarter were approximately $1.4 billion, and it expected full-year capital investments to be between $5.8 billion and $6.3 billion.
NextEra reported first-quarter 2020 net income of $421 million, compared with $680 million in first-quarter 2019.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
In the company's earnings conference call, Chief Executive Officer Jim Robo said, "Our engineering and construction team continues to perform exceptionally well, keeping the largest construction program in NextEra Energy's history on schedule and on budget." Robo said the company had recently completed two nuclear refueling outages, one of which was one of the shortest in 20 years, and was progressing with refueling outages at its Turkey Point and Seabrook plants, in Florida and New Hampshire, respectively. For more information, see Industrial Info's project reports on the Turkey Point and Seabrook outages.
Robo also said the company's renewable energy projects also were progressing: "2020 wind turbine deliveries remain ahead of schedule, and we're not currently experiencing any significant equipment or labor issues at any of the more than 5,000 megawatts (MW) of wind and solar projects that we expect to complete this year."
Among the renewable energy projects that NextEra expects to complete this year is the 300-MW Soldier Creek Windfarm near Seneca, Kansas, which will use 120 2.5-MW wind turbines. Construction began in the first quarter of this year and is expected to be completed in the third quarter. For more information, see Industrial Info's project report.
Also on track for completion this year is the 150-MW Two Creeks photovoltaic solar plant near Two Rivers, Wisconsin, on the shore of Lake Michigan. The facility will use approximately 533,000 monocrystalline solar modules on a single-axis tracking system and will include a battery-energy storage system. Construction began last summer and is expected to be completed by the end of the year. or more information, see Industrial Info's project report.
The company also continues adding to its renewable backlog. In the just-passed quarter, NextEra Energy Resources added 1,590 MW in projects to its backlog, including 600 MW for wind for 2022 and beyond, 420 MW of solar and 457 MW of battery storage, most of which will be added to existing solar sites. It also added 113 MW of wind repowering projects.
While NextEra is constructing throughout the U.S., its major footprint is in its home state of Florida, through primary subsidiary Florida Power & Light (FPL) (Juno Beach). Chief Financial Officer Rebecca Kujawa said that current plans project "an approximately 70% increase in the amount of zero-emission electricity that is generated in 2029 relative to 2019 as a result of FPL's continued rapid expansion of solar energy through the execution of its '30-by-30' plan," which entails installing more than 30 million solar panels in Florida by 2030. "By the end of this decade," said Kujawa, "FPL projects it will have more than 10,000 MW of installed solar capacity."
Kujawa said, "Despite the challenges presented by the COVID-19 pandemic, all of FPL's major capital projects remain on track and on budget," including 750 MW of solar projects that are to be placed in service in the remainder of this year. Examples of these projects include the 74.5-MW Union County solar energy center near Lake Butler, Florida, in the north of the state. The plant will use 333,000 First Solar (NASDAQ:FSLR) (Tempe, Arizona) thin-film photovoltaic panels on a single-axis tracking system. Black & Veatch Incorporated (Overland Park, Kansas) is providing engineering, procurement and construction (EPC) on the project, which is expected to be completed late this year. For more information, see Industrial Info's project report.
Among FPL's largest projects is the 1,200-MW Dania Beach Clean Energy Center, a combined-cycle plant in Fort Lauderdale, Florida. Kujawa said the project, which began construction last year, was on schedule and on budget for its targeted in-service date of 2022. Black & Veatch also is providing EPC services for the project, which has an estimated total investment value of $888 million. For more information, see Industrial Info's project report.
Kujawa said FPL's capital expenditures in the first quarter were approximately $1.4 billion, and it expected full-year capital investments to be between $5.8 billion and $6.3 billion.
NextEra reported first-quarter 2020 net income of $421 million, compared with $680 million in first-quarter 2019.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
