NextEra Energy CEO: Build Back Better is an 'accelerator, not something that we would certainly need'

• The CEO of US utility NextEra Energy has said that while he thinks it is "most likely than not" that the clean energy piece of the nation's Build Back Better (BBB) bill gets acted upon this year, the business does not need policy assistance consisted of in the legislation to accomplish its targets.

Speaking throughout a teleconference following the magazine of NextEra's full-year earnings the other day, Jim Robo claimed he considers BBB "as an accelerator, not as something that we would certainly need" to supply on profits or stockpile growth.

"I do assume it's most likely than not that the clean energy piece of BBB obtains acted on this year," claimed Robo, who NextEra Energy revealed yesterday would be stepping down as chief executive officer in March adhering to virtually 10 years at the helm.

Including clean energy and also environment financial investments amounting to US$ 555 billion, BBB includes assistance for domestic PV makers as well as broadened solar financial investment tax debts. After arrangements on passing the bill stalled at the end of last year, President Joe Biden exposed recently that he thinks he can win support for the energy and ecological efforts, saying he is confident of obtaining "large chunks" of the legislation authorized right into legislation.

NextEra Energy was among the greater than 260 companies that signed a letter sent today to legislative management, advising them to settle negotiations on BBB as soon as possible. They said that US$ 2 billion is being lost in financial task on a monthly basis the bill is postponed.

Robo will certainly be prospered by John Ketchum, who is presently chief executive officer of NextEra Energy Resources, the business's clean energy organization.

NextEra Energy Resources had a record year in 2021 for renewables and also storage source, including about 7.2 GW to its stockpile and expanding its stockpile of authorized contracts by nearly 25% year-over-year.

Having actually appointed 3.8 GW of solar, wind and energy storage projects last year, the clean energy unit is claimed to be "well on its way" to satisfying its renewables development assumptions to construct around 23-- 30GW from 2021 to 2024.

In December, NextEra Energy's Florida Power & Light (FPL) subsidiary finished deal with the globe's largest battery energy storage system (BESS) to have actually been paired with solar PV, the Manatee Energy Storage Center in Florida. The 409MW/ 900MWh BESS is co-located with a 74.5 MW solar plant.

NextEra Energy's 2021 modified revenues were up 10% year-on-year to US$ 5.02 billion, while running profits dropped 5% to US$ 17.07 billion.