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Released January 26, 2022 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--NextEra Energy Incorporated (NYSE:NEE) (Juno Beach, Florida) keeps rolling out the renewable energy projects--even faster than the company previously anticipated. NextEra operates two major subsidiaries: Florida Power & Light Company (FPL), which focuses on Florida, and NextEra Energy Resources, which serves the rest of the country. In early 2019, FPL announced its "30-by-30" plan, which aimed to install more than 30 million solar panels in Florida by 2030. FPL now sees this goal as being met by 2025. NextEra Energy Resources added 7,200 megawatts (MW) to its renewables and storage backlog last year. In a Tuesday conference call with analysts, Rebecca Kujawa, NextEra's chief financial officer, discussed the company's achievements and future goals.
FPL commissioned more than 800 MW of new solar power in 2021, said Kujawa. FPL is benefitting from Florida's Solar Base Rate Adjustment (SoBRA) plan, which allows the Florida Public Utility Commission to approve solar project additions into a utility rate base without a full rate case and, once in service, recover the revenue requirements associated with a project.
To this end, FPL is establishing a broad network of solar facilities throughout Florida, most with a nameplate generating capacity of 74.5 MW. Examples of such projects to be completed in the coming months include FPL's Cotton Creek Energy Center in McDavid, in Florida's panhandle, about 35 miles north of Pensacola. Construction kicked off in 2021 and is expected to be completed by the end of first-quarter 2022. Moss & Associates Construction Company LLC (Fort Lauderdale, Florida) is providing engineering, procurement and construction (EPC) services. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can click here for the project report.
NextEra's nationwide renewables arm, NextEra Energy Resources, is constructing both solar and wind projects throughout the country and doesn't appear to be reaching a state of stasis anytime soon, adding 7,200 MW of new renewables and battery storage to its backlog in the just-passed year. Kuajwa said, "In 2021, we commissioned approximately 3,800 MW of wind, solar and storage projects." Kujawa said Energy Resources had added about 1,500 MW to its backlog since the third-quarter 2021 conference call in October, "including approximately 700 MW of new wind and wind repowerings, 300 MW of solar and 500 MW of battery storage." The company's renewables backlog now stands at more than 16,600 MW, roughly the size of its entire renewables generation portfolio at the end of 2017 and nearly 25% larger than its backlog at yearend 2020.
Examples of projects include the Dunns Bridge I photovoltaic solar plant near Tefft, Indiana, which will use 900,000 Canadian Solar (NASDAQ:CSIQ) (Guelph, Ontario) solar cells to generate 265 MW. The project is expected to be completed by the end of this year. Subscribers can click here for the detailed report.
Wind projects from NextEra Energy Resources also abound, such as the Buffalo Ridge wind energy project near Lake Benton, Minnesota, in the southwest of the state. The facility will use 40 turbines, ranging in generating capacity from 2.52 MW to 2.82 MW, to generate about 110 MW. The facility is expected to be completed this summer. Subscribers can click here for the project report.
NextEra also is positioning itself to be the renewable energy provider for green hydrogen generation and will be the preferred supplier to Monolith Materials Incorporated's (Lincoln, Nebraska) green hydrogen and carbon black plant, which will be constructed in Nebraska. Subscribers to Industrial Info's Chemical Processing Project Database can click here for the report.
But NextEra's not putting all of its eggs into the renewables basket. FPL is constructing the 1,200-MW Dania Beach Clean Energy Center, a natural gas-fired plant near Fort Lauderdale that Kujawa said was on schedule and on budget and anticipated to begin service later this year. Black & Veatch Incorporated (Overland Park, Kansas) is providing EPC services on the project, construction of which began in 2019. Subscribers can click here for the detailed report.
NextEra also announced some corporate changes. Jim Robo, the chief executive officer, will become executive chairman for a transition period, and John Ketchum, the president and CEO of NextEra Energy Resources, will replace him. Kujawa will assume Ketchum's current role.
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.
FPL commissioned more than 800 MW of new solar power in 2021, said Kujawa. FPL is benefitting from Florida's Solar Base Rate Adjustment (SoBRA) plan, which allows the Florida Public Utility Commission to approve solar project additions into a utility rate base without a full rate case and, once in service, recover the revenue requirements associated with a project.
To this end, FPL is establishing a broad network of solar facilities throughout Florida, most with a nameplate generating capacity of 74.5 MW. Examples of such projects to be completed in the coming months include FPL's Cotton Creek Energy Center in McDavid, in Florida's panhandle, about 35 miles north of Pensacola. Construction kicked off in 2021 and is expected to be completed by the end of first-quarter 2022. Moss & Associates Construction Company LLC (Fort Lauderdale, Florida) is providing engineering, procurement and construction (EPC) services. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can click here for the project report.
NextEra's nationwide renewables arm, NextEra Energy Resources, is constructing both solar and wind projects throughout the country and doesn't appear to be reaching a state of stasis anytime soon, adding 7,200 MW of new renewables and battery storage to its backlog in the just-passed year. Kuajwa said, "In 2021, we commissioned approximately 3,800 MW of wind, solar and storage projects." Kujawa said Energy Resources had added about 1,500 MW to its backlog since the third-quarter 2021 conference call in October, "including approximately 700 MW of new wind and wind repowerings, 300 MW of solar and 500 MW of battery storage." The company's renewables backlog now stands at more than 16,600 MW, roughly the size of its entire renewables generation portfolio at the end of 2017 and nearly 25% larger than its backlog at yearend 2020.
Examples of projects include the Dunns Bridge I photovoltaic solar plant near Tefft, Indiana, which will use 900,000 Canadian Solar (NASDAQ:CSIQ) (Guelph, Ontario) solar cells to generate 265 MW. The project is expected to be completed by the end of this year. Subscribers can click here for the detailed report.
Wind projects from NextEra Energy Resources also abound, such as the Buffalo Ridge wind energy project near Lake Benton, Minnesota, in the southwest of the state. The facility will use 40 turbines, ranging in generating capacity from 2.52 MW to 2.82 MW, to generate about 110 MW. The facility is expected to be completed this summer. Subscribers can click here for the project report.
NextEra also is positioning itself to be the renewable energy provider for green hydrogen generation and will be the preferred supplier to Monolith Materials Incorporated's (Lincoln, Nebraska) green hydrogen and carbon black plant, which will be constructed in Nebraska. Subscribers to Industrial Info's Chemical Processing Project Database can click here for the report.
But NextEra's not putting all of its eggs into the renewables basket. FPL is constructing the 1,200-MW Dania Beach Clean Energy Center, a natural gas-fired plant near Fort Lauderdale that Kujawa said was on schedule and on budget and anticipated to begin service later this year. Black & Veatch Incorporated (Overland Park, Kansas) is providing EPC services on the project, construction of which began in 2019. Subscribers can click here for the detailed report.
NextEra also announced some corporate changes. Jim Robo, the chief executive officer, will become executive chairman for a transition period, and John Ketchum, the president and CEO of NextEra Energy Resources, will replace him. Kujawa will assume Ketchum's current role.
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.
