NextEra Energy Resources to establish up to 14.4 GW of new solar by 2024

Feb 1, 2021 02:16 PM ET
  • NextEra Energy Resources has actually exposed strategies to add as high as 30GW of renewables to its portfolio by the end of 2024, as it remains to construct its considerable backlog of projects.
NextEra Energy Resources to establish up to 14.4 GW of new solar by 2024
Image: NextEra

The renewables company of NextEra Energy said that number would see it accumulate to 14.4 GW of solar capacity and as high as 6.3 GW of power storage.

A mix of inexpensive renewables and battery storage space today and also hydrogen in the longer term "has considerably raised the complete addressable market for NextEra Energy", CEO Jim Robo said in a teleconference adhering to the magazine of the company's 2020 results.

He highlighted the potential for decarbonisation in the electrical energy, transport and commercial industries, thanks to renewables, battery storage as well as environment-friendly hydrogen.

"In addition, we believe it is possible that the Biden management, supported by a substantial shift in public assistance towards taking action to attend to climate modification, may act to more speed up these shifts with the extension of existing incentives, as well as initiating other kinds of policy support," Robo added.

Last year saw NextEra Energy Resources greater than double the amount of overall sustainable projects appointed compared to 2019, getting to 5,750 MW of solar, wind and also storage space plants. 2020 was likewise a document for renewable source for the system, adding almost 7GW to its backlog.

Regardless of the positive renewables figures, NextEra Energy published a fourth-quarter loss of US$ 5 million, as it made a note of the worth of its investment in the Mountain Valley natural gas pipe by US$ 1.2 billion because of lawful difficulties and hold-ups in reaching commercial procedure.

The business's full-year earnings was down 23% year-on-year to US$ 2.92 billion, while operating revenues were US$ 18 billion, a decline of 6% on 2019.

It was revealed that Florida Power & Light Company (FPL), the NextEra-owned utility that offers more than 5.6 million customer accounts throughout Florida, positioned greater than 1,100 MW of solar in service in 2020. The subsidiary is aiming to have about 10GW of solar capacity on its system by 2030.

FPL last week introduced work has begun on the Manatee Energy Storage Center, a solar-powered battery system that is expected to have a 409MW capacity, supplying 900MWh of energy. Situated on Florida's west shore, the project results from be operational by the end of 2021.

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