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Released April 24, 2019 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--NextEra Energy Incorporated (NYSE:NEE) (Juno Beach, Florida) is moving along with natural gas-fired and renewable energy projects in Florida and elsewhere. In first-quarter 2019, in addition to placing several projects into service, the company added nearly 1,000 megawatts (MW) of renewable energy projects to its backlog and completed a large natural gas-fired power station. The company's primary subsidiary, Florida Power & Light (FPL) (Juno Beach) is expected to make capital investments of between $5.7 billion and $6.1 billion in 2019.
In the company's first-quarter 2019 earnings conference call, Chief Financial Officer Rebecca Kujawa discussed the company's ongoing and recently completed projects. Among the largest projects wrapped up by NextEra in the quarter was the 1,750-MW Okeechobee Clean Energy Center in Okeechobee, Florida. Construction on the combined-cycle facility began in early 2017, with Zachry Industrial Services Group (San Antonio, Texas) providing engineering, procurement and construction (EPC) on the project. For more information, see Industrial Info's project report.
NextEra also placed nearly 300 MW of solar projects into service in the quarter under the Solar Base Adjustment (SoBRA) program and has plans for several more solar projects under SoBRA and the company's SolarTogether program, for which NextEra is expecting to spend $1.8 billion. Kujawa said, "To support what is one of the largest-ever solar expansions, FPL has already secured approximately 7 gigawatts of potential sites." Among the company's active solar projects in Florida is the 74.5-MW Baker County Solar Energy Center near Sanderson. Construction on the $120 million facility is set to begin later this year, for completion in the first half of 2020. For more information, see Industrial Info's project report.
Kujawa said, "During the quarter, FPL also announced modernization plans to replace two existing natural gas steam units, totaling approximately 1,650 MW, with clean and renewable energy, including the world's largest solar-powered battery system. The 409-MW, 900-megawatt-hour Manatee Energy Storage Center is expected to increase the predictability of the existing co-located solar project, enabling FPL to more efficiently dispatch other power plants. The project is expected to be in service in 2021 and save customers more than $100 million while eliminating more than 1 million tons of carbon-dioxide emissions." The $759.5 million project will be built next to the Manatee Solar Farm near Parrish, Florida. Construction is expected to kick off in the second half of next year, taking a little over a year to complete. For more information, see Industrial Info's project report.
NextEra also is expanding its solar footprint outside of Florida. Among the company's planned projects is the 200-MW Dodge Flats facility near Wadsworth, Nevada. Construction on the $400 million project could begin in the first half of next year, for completion in early 2021. For more information, see Industrial Info's project report.
NextEra added 233 MW of wind power projects to its backlog in the quarter. Most of the company's wind projects are outside of Florida. Among NextEra's current wind projects is the 300-MW Torrecillas Wind Energy Center near Freer, Texas. The facility will use 120 General Electric (NYSE:GE) 2.5-MW wind turbine generators. Construction began last summer, and the project is expected to wrap up soon. Blattner Energy Incorporated (Avon, Minnesota) is providing EPC on the project, which has an estimated total investment value of $495 million. For more information, see Industrial Info's project report.
Among NextEra's largest projects on the horizon is the Dania Beach Clean Energy Center near Fort Lauderdale, Florida. Construction on the 1,200-MW combined-cycle facility will kick off later this year with Black & Veatch Incorporated (Overland Park, Kansas) providing EPC. The $888 million plant is expected to be in service by the summer of 2022. For more information, see Industrial Info's project report.
NextEra's first-quarter 2019 adjusted net earnings were $1.06 billion, compared with $929 million in first-quarter 2018.
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 first-quarter 2019 earnings conference call, Chief Financial Officer Rebecca Kujawa discussed the company's ongoing and recently completed projects. Among the largest projects wrapped up by NextEra in the quarter was the 1,750-MW Okeechobee Clean Energy Center in Okeechobee, Florida. Construction on the combined-cycle facility began in early 2017, with Zachry Industrial Services Group (San Antonio, Texas) providing engineering, procurement and construction (EPC) on the project. For more information, see Industrial Info's project report.
NextEra also placed nearly 300 MW of solar projects into service in the quarter under the Solar Base Adjustment (SoBRA) program and has plans for several more solar projects under SoBRA and the company's SolarTogether program, for which NextEra is expecting to spend $1.8 billion. Kujawa said, "To support what is one of the largest-ever solar expansions, FPL has already secured approximately 7 gigawatts of potential sites." Among the company's active solar projects in Florida is the 74.5-MW Baker County Solar Energy Center near Sanderson. Construction on the $120 million facility is set to begin later this year, for completion in the first half of 2020. For more information, see Industrial Info's project report.
Kujawa said, "During the quarter, FPL also announced modernization plans to replace two existing natural gas steam units, totaling approximately 1,650 MW, with clean and renewable energy, including the world's largest solar-powered battery system. The 409-MW, 900-megawatt-hour Manatee Energy Storage Center is expected to increase the predictability of the existing co-located solar project, enabling FPL to more efficiently dispatch other power plants. The project is expected to be in service in 2021 and save customers more than $100 million while eliminating more than 1 million tons of carbon-dioxide emissions." The $759.5 million project will be built next to the Manatee Solar Farm near Parrish, Florida. Construction is expected to kick off in the second half of next year, taking a little over a year to complete. For more information, see Industrial Info's project report.
NextEra also is expanding its solar footprint outside of Florida. Among the company's planned projects is the 200-MW Dodge Flats facility near Wadsworth, Nevada. Construction on the $400 million project could begin in the first half of next year, for completion in early 2021. For more information, see Industrial Info's project report.
NextEra added 233 MW of wind power projects to its backlog in the quarter. Most of the company's wind projects are outside of Florida. Among NextEra's current wind projects is the 300-MW Torrecillas Wind Energy Center near Freer, Texas. The facility will use 120 General Electric (NYSE:GE) 2.5-MW wind turbine generators. Construction began last summer, and the project is expected to wrap up soon. Blattner Energy Incorporated (Avon, Minnesota) is providing EPC on the project, which has an estimated total investment value of $495 million. For more information, see Industrial Info's project report.
Among NextEra's largest projects on the horizon is the Dania Beach Clean Energy Center near Fort Lauderdale, Florida. Construction on the 1,200-MW combined-cycle facility will kick off later this year with Black & Veatch Incorporated (Overland Park, Kansas) providing EPC. The $888 million plant is expected to be in service by the summer of 2022. For more information, see Industrial Info's project report.
NextEra's first-quarter 2019 adjusted net earnings were $1.06 billion, compared with $929 million in first-quarter 2018.
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.
