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Researched by Industrial Info Resources (Sugar Land, Texas)--NextEra Energy Incorporated (NYSE:NEE) (Juno Beach, Florida) continued to add renewable capacity to its portfolio in the third quarter, even as the company's operations in the U.S. Southeast, particularly those in Florida, struggled to recover from the damage of hurricanes Helene and Milton. Industrial Info is tracking more than $76 billion worth of active and proposed projects from NextEra across the U.S., more than $57 billion of which is attributed to grassroot projects.
Click on the image at right for a graph detailing the top 10 U.S. states for NextEra projects, by total investment value.
John Ketchum, the chief executive officer of NextEra, said in a recent earnings-related conference call that the company added 3 gigawatts (GW) of renewable-energy projects to its backlog in the third quarter. "With these additions, our backlog now totals over 24 GW, after taking into account roughly 1 GW of new projects placed into service since our last earnings call," Ketchum said. "We expect the backlog additions will go into service over the next several years."
The bulk of NextEra's grassroot developments, both proposed and under construction, are solar-power projects, and one of the largest under construction is intended to serve a single customer: the $444 million Hickerson Solar Plant in Laguna Park, Texas, which is designed to generate more than 310 megawatts (MW) from about 697,000 photovoltaic (PV) panels for 14 plants owned by INEOS Olefins & Polymers USA, a subsidiary of chemical producer INEOS (London, England).
The Hickerson project kicked off over the summer and is scheduled to wrap up toward the end of next year. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project and Plant databases can learn more from a detailed project report and plant profile.
Grassroot projects that could begin construction as early as 2025 include the proposed Wagon Trail Solar Plant in Boardman, Oregon, which is designed to have two major components, each with a 500-MW capacity: a solar farm with more than 965,000 PV panels and a lithium-ion battery energy-storage system (BESS) unit. NextEra also is considering a BESS unit for the Hickerson plant, which would have a 302-MW capacity if approved and built. Subscribers can read detailed reports on the Wagon Trail plant and the possible Hickerson BESS.
BESS units have become a common feature in NextEra's project portfolio, with more than $28 billion of investment attached to either standalone BESS projects or solar projects with a BESS unit. Grassroot BESS projects include the proposed Mount Vernon unit in Burlington, Washington, which is about 60 miles north of Seattle. The 200-MW BESS would serve Skagit County, which is home to two oil refineries and numerous manufacturing facilities. Subscribers can learn more from a detailed project report and plant profile.
Brownfield projects also play a major role in NextEra's portfolio, including two proposed additions to the Duane Arnold Solar Plant in Palo, Iowa: a third-phase solar buildout that would add up to 300 MW of generation to the existing 200-MW facility, and a fourth-phase BESS unit that would hold up to 180 MW. Both projects remain in their early development phases, where plenty of factors could alter, delay or eliminate any investment. Subscribers can read detailed reports on the proposed solar buildout and BESS unit.
NextEra also is proposing buildouts at some of its wind-energy facilities, including a third-phase addition at its Wind Energy Center in Edgeley, North Dakota. The expansion would add a yet-undetermined amount of capacity, although estimates put it between 300 and 800 MW, and could fuel a proposed "Power-to-X" green hydrogen facility, which remains in its early exploration stages. Subscribers can learn more from detailed reports on the proposed expansion and green hydrogen plant.
"When it comes to economics, renewables and storage are the lowest-cost generation and capacity resource for customers in many parts of the U.S.," Ketchum said in the earnings call. "We believe new wind is up to 60% cheaper and new solar up to 40% cheaper than new gas power generation, and that's on a nearly firm basis when paired with a four-hour battery. Incentives for wind, solar, and storage flow directly to customers in the form of lower bills."
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.
Subscribers can click here for a full list of detailed reports for active and proposed projects from NextEra.
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) platform 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 more than 200,000 current and future projects worth $17.8 trillion (USD).
Click on the image at right for a graph detailing the top 10 U.S. states for NextEra projects, by total investment value. John Ketchum, the chief executive officer of NextEra, said in a recent earnings-related conference call that the company added 3 gigawatts (GW) of renewable-energy projects to its backlog in the third quarter. "With these additions, our backlog now totals over 24 GW, after taking into account roughly 1 GW of new projects placed into service since our last earnings call," Ketchum said. "We expect the backlog additions will go into service over the next several years."
The bulk of NextEra's grassroot developments, both proposed and under construction, are solar-power projects, and one of the largest under construction is intended to serve a single customer: the $444 million Hickerson Solar Plant in Laguna Park, Texas, which is designed to generate more than 310 megawatts (MW) from about 697,000 photovoltaic (PV) panels for 14 plants owned by INEOS Olefins & Polymers USA, a subsidiary of chemical producer INEOS (London, England).
The Hickerson project kicked off over the summer and is scheduled to wrap up toward the end of next year. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project and Plant databases can learn more from a detailed project report and plant profile.
Grassroot projects that could begin construction as early as 2025 include the proposed Wagon Trail Solar Plant in Boardman, Oregon, which is designed to have two major components, each with a 500-MW capacity: a solar farm with more than 965,000 PV panels and a lithium-ion battery energy-storage system (BESS) unit. NextEra also is considering a BESS unit for the Hickerson plant, which would have a 302-MW capacity if approved and built. Subscribers can read detailed reports on the Wagon Trail plant and the possible Hickerson BESS.
BESS units have become a common feature in NextEra's project portfolio, with more than $28 billion of investment attached to either standalone BESS projects or solar projects with a BESS unit. Grassroot BESS projects include the proposed Mount Vernon unit in Burlington, Washington, which is about 60 miles north of Seattle. The 200-MW BESS would serve Skagit County, which is home to two oil refineries and numerous manufacturing facilities. Subscribers can learn more from a detailed project report and plant profile.
Brownfield projects also play a major role in NextEra's portfolio, including two proposed additions to the Duane Arnold Solar Plant in Palo, Iowa: a third-phase solar buildout that would add up to 300 MW of generation to the existing 200-MW facility, and a fourth-phase BESS unit that would hold up to 180 MW. Both projects remain in their early development phases, where plenty of factors could alter, delay or eliminate any investment. Subscribers can read detailed reports on the proposed solar buildout and BESS unit.
NextEra also is proposing buildouts at some of its wind-energy facilities, including a third-phase addition at its Wind Energy Center in Edgeley, North Dakota. The expansion would add a yet-undetermined amount of capacity, although estimates put it between 300 and 800 MW, and could fuel a proposed "Power-to-X" green hydrogen facility, which remains in its early exploration stages. Subscribers can learn more from detailed reports on the proposed expansion and green hydrogen plant.
"When it comes to economics, renewables and storage are the lowest-cost generation and capacity resource for customers in many parts of the U.S.," Ketchum said in the earnings call. "We believe new wind is up to 60% cheaper and new solar up to 40% cheaper than new gas power generation, and that's on a nearly firm basis when paired with a four-hour battery. Incentives for wind, solar, and storage flow directly to customers in the form of lower bills."
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.
Subscribers can click here for a full list of detailed reports for active and proposed projects from NextEra.
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) platform 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 more than 200,000 current and future projects worth $17.8 trillion (USD).
