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Released March 25, 2024 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Industrial Info is tracking $59 billion worth of active and planned renewable-generation projects from NextEra Energy Incorporated (NYSE:NEE) (Juno Beach, Florida), which includes a solar project in Louisiana that broke ground last week. About $18 billion of the spending is attributed to projects with a medium-to-high (70% or more) likelihood of moving forward as planned.
The combined 100-megawatt (MW), $138 million Amite Solar Energy Center in Tangipahoa County, Louisiana, on the southeastern border of the state, will include an 80-MW solar array utilizing 30,000 photovoltaic (PV) thin-film solar panels on a fixed-tilt racking system, while a 20-MW battery energy storage system (BESS) will provide power in times when the sun isn't shining. The project is expected to wrap up around spring 2025. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can click here to read the project report.
NextEra is composed of its Florida Power & Light (FPL) electric utility and its NextEra Energy Resources (NEER) merchant clean energy business. In January, NextEra reported NEER had its best-ever year of new renewables and storage capacity backlog additions in 2023, adding approximately 9,000 MW of new projects. According to NextEra's March investor presentation, NEER had a year-end backlog of 20 gigawatts (GW).
Also according to the recent presentation, FPL plans to spend between $32 billion and $34 billion in capital expenditures from 2022 through 2025, which includes roughly $10 billion for solar projects. FPL plans to add about 5 GW of new solar capacity in that time and about 20 GW of new capacity through 2032. 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 53 active and planned projects, worth $5 billion, from FPL that have a medium-to-high (70% or more) likelihood of moving forward as planned, nearly all of which is for solar power. That includes 13 projects worth $1.2 billion that are under construction, all of which are expected to wrap up by early 2025. The $150 million Hog Bay Solar Energy Center in De Soto County will utilize 200,000 PV panels from First Solar Incorporated (NASDAQ:FSLR) (Tempe, Arizona) to provide 74.5 MW of solar generation, and construction of the $100 million Pecan Tree Solar Energy Center in Walton County is expected to wrap up in June. Construction of the $103 million Silver Palm Solar Energy Center in Palm Beach County is expected to wrap up at the end of March. Subscribers can read detailed reports on the Hog Bay, Pecan Tree and Silver Palm projects.
Meanwhile, NextEra Energy Resources expects the construction of two windfarms will wrap up around the end of the year, both of which will utilize turbines from General Electric (NYSE:GE) (Boston, Massachusetts): its 254-MW, $457 million Roadrunner Crossing Windfarm in Eastland County, Texas, southeast of the Dallas-Fort Worth metroplex, and the $400 million Phase IV Cedar Springs Windfarm addition project in Douglas, Wyoming, which will add roughly 370 MW of generation to the windfarm. Subscribers can read more information on the Roadrunner Crossing and Cedar Springs projects.
Among the solar projects underway and expected to wrap up by the end of the year are the 200-MW, $325 million Troutdale solar project in Corbett, Oregon, and the $225 million Flint River Solar Energy Center in Decatur, Georgia. NextEra has a power purchase agreement in place with Southern Company (NYSE:SO) (Atlanta, Georgia) subsidiary Georgia Power for Flint River's full output; Georgia Power serves about 2.7 million customers in all but four of Georgia's counties. Subscribers can read the Troutdale and Flint River project reports.
Among NextEra's BESS projects under construction is its 300-MW/1,200-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. Also expected to wrap up around that time is construction of the Cavalry solar-plus-storage project in White County, Indiana, which will provide 200 MW of solar and 60 MW of BESS capacity, respectively. Subscribers can read the Desert Sunlight and Cavalry project reports.
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).
The combined 100-megawatt (MW), $138 million Amite Solar Energy Center in Tangipahoa County, Louisiana, on the southeastern border of the state, will include an 80-MW solar array utilizing 30,000 photovoltaic (PV) thin-film solar panels on a fixed-tilt racking system, while a 20-MW battery energy storage system (BESS) will provide power in times when the sun isn't shining. The project is expected to wrap up around spring 2025. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can click here to read the project report.
NextEra is composed of its Florida Power & Light (FPL) electric utility and its NextEra Energy Resources (NEER) merchant clean energy business. In January, NextEra reported NEER had its best-ever year of new renewables and storage capacity backlog additions in 2023, adding approximately 9,000 MW of new projects. According to NextEra's March investor presentation, NEER had a year-end backlog of 20 gigawatts (GW).
Also according to the recent presentation, FPL plans to spend between $32 billion and $34 billion in capital expenditures from 2022 through 2025, which includes roughly $10 billion for solar projects. FPL plans to add about 5 GW of new solar capacity in that time and about 20 GW of new capacity through 2032. 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 53 active and planned projects, worth $5 billion, from FPL that have a medium-to-high (70% or more) likelihood of moving forward as planned, nearly all of which is for solar power. That includes 13 projects worth $1.2 billion that are under construction, all of which are expected to wrap up by early 2025. The $150 million Hog Bay Solar Energy Center in De Soto County will utilize 200,000 PV panels from First Solar Incorporated (NASDAQ:FSLR) (Tempe, Arizona) to provide 74.5 MW of solar generation, and construction of the $100 million Pecan Tree Solar Energy Center in Walton County is expected to wrap up in June. Construction of the $103 million Silver Palm Solar Energy Center in Palm Beach County is expected to wrap up at the end of March. Subscribers can read detailed reports on the Hog Bay, Pecan Tree and Silver Palm projects.
Meanwhile, NextEra Energy Resources expects the construction of two windfarms will wrap up around the end of the year, both of which will utilize turbines from General Electric (NYSE:GE) (Boston, Massachusetts): its 254-MW, $457 million Roadrunner Crossing Windfarm in Eastland County, Texas, southeast of the Dallas-Fort Worth metroplex, and the $400 million Phase IV Cedar Springs Windfarm addition project in Douglas, Wyoming, which will add roughly 370 MW of generation to the windfarm. Subscribers can read more information on the Roadrunner Crossing and Cedar Springs projects.
Among the solar projects underway and expected to wrap up by the end of the year are the 200-MW, $325 million Troutdale solar project in Corbett, Oregon, and the $225 million Flint River Solar Energy Center in Decatur, Georgia. NextEra has a power purchase agreement in place with Southern Company (NYSE:SO) (Atlanta, Georgia) subsidiary Georgia Power for Flint River's full output; Georgia Power serves about 2.7 million customers in all but four of Georgia's counties. Subscribers can read the Troutdale and Flint River project reports.
Among NextEra's BESS projects under construction is its 300-MW/1,200-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. Also expected to wrap up around that time is construction of the Cavalry solar-plus-storage project in White County, Indiana, which will provide 200 MW of solar and 60 MW of BESS capacity, respectively. Subscribers can read the Desert Sunlight and Cavalry project reports.
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).
