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NextEra Energy reports news on a North American electric power and energy infrastructure business built around Florida Power & Light Company and NextEra Energy Resources. Recurring updates cover regulated utility operations in Florida, energy infrastructure development, financial results, investor presentations, and capital actions tied to common stock, equity units, debentures, and project funding.
Company news also covers generation and infrastructure themes across natural gas, nuclear power, renewable energy, and battery storage. Florida Power & Light developments include utility service, nuclear-plant licensing and operations, and power-supply planning, while NextEra Energy Resources updates center on large-scale energy development and customer demand for new generation.
Florida Power & Light Company (FPL) has surpassed 40% completion of its ambitious '30-by-30' plan to install 30 million solar panels by 2030, achieving over 12 million installations. The initiative positions Florida as a leader in solar energy, with FPL expecting to save customers around $421 million over the assets' lifetimes. With 42 operational solar energy centers, FPL aims for over 15 million panels by early 2022. Furthermore, the company plans to construct the world's largest integrated solar-powered battery system, further enhancing its renewable energy portfolio.
The board of directors of NextEra Energy declared a quarterly common stock dividend of $0.385 per share. This dividend is set to be paid on June 15, 2021, to shareholders on record as of June 2, 2021. NextEra Energy, a leader in clean energy, operates Florida Power & Light, serving over 5.6 million customer accounts. The company has been recognized for its sustainability efforts, ranking among the top in the electric and gas utilities industry.
NextEra Energy Partners (NYSE: NEP) has announced an upsized convertible equity portfolio financing agreement with KKR, increasing the financing by $150 million. This amendment, part of a 10-year agreement initiated in November 2020, will boost total proceeds to approximately $1.25 billion. The funds will help finance the acquisition of a 400-megawatt wind project portfolio. Adjusted EBITDA and cash available for distribution (CAFD) are projected to be at the upper end of previously announced ranges, supporting a distribution growth expectation of 12% to 15% annually through 2024.
AM Best has affirmed the Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of 'a' (Excellent) for Palms Insurance Company, Limited, with a stable outlook. This rating reflects Palms' strong balance sheet strength, adequate operating performance, and effective enterprise risk management. The company provides insurance primarily for the energy sector, with a solid capital position and excellent loss history. However, it faces potential volatility due to exposure to low-frequency, high-severity claims, particularly in its renewable energy coverage.
OPAL Fuels and NextEra Energy Marketing have announced plans to construct Minnesota's first landfill renewable natural gas (RNG) production facility. This facility will replace an existing power generation site at the Pine Bend Landfill and is projected to produce over 6 million gas gallon equivalents of RNG annually. The project aims to reduce carbon emissions significantly, equivalent to taking 435,000 cars off the road each year. Construction will create about 50-60 jobs, with completion expected in Q1 2022.
NextEra Energy, Inc. (NYSE: NEE) has released its first-quarter 2021 financial results, highlighting its position as a leader in clean energy. The webcast presentation led by CEO Jim Robo and CFO Rebecca Kujawa began at 9 a.m. ET. NextEra serves over 5.6 million customer accounts in Florida, operating the largest rate-regulated electric utility in the U.S. The company is recognized for its sustainability and has received accolades such as Fortune's 'World's Most Admired Companies' and the S&P Global Platts 2020 Energy Transition Award.
NextEra Energy Partners, LP (NYSE: NEP) has released its first-quarter 2021 financial results, available on its website. The partnership focuses on acquiring and managing clean energy projects for stable cash flows. An investor presentation discussing these results will be webcast live at 9 a.m. ET today. This session will include results from NextEra Energy, Inc. (NYSE: NEE). The firm is headquartered in Juno Beach, Florida, and operates a diverse portfolio of wind, solar, and natural gas projects across the U.S.
NextEra Energy Partners, LP (NYSE: NEP) has signed an agreement to acquire a 391-MW portfolio of wind assets in California and New Hampshire from Brookfield Renewable for $733 million. The acquisition includes four operational facilities with long-term contracts, enhancing NEP's portfolio diversity. The assets are expected to generate annual adjusted EBITDA and CAFD of approximately $63-$70 million starting from December 31, 2021. NEP anticipates its LP distributions to grow by 12%-15% through 2024. The deal awaits regulatory approvals and is expected to close in Q3 2021.
NextEra Energy Partners, LP (NYSE: NEP) will release its first-quarter 2021 financial results before the NYSE opens on April 21, 2021. The results will be accessible via the company's website. A live webcast of the investor presentation will take place at 9 a.m. ET on the same day, during which the financial results of NextEra Energy, Inc. (NYSE: NEE) will also be discussed. Following the presentation, a replay will be available for 90 days. NextEra Energy Partners focuses on acquiring and managing contracted clean energy projects.
NextEra Energy, Inc. (NYSE: NEE) will report its first-quarter 2021 financial results before the NYSE opens on April 21, 2021. The results will be available on its website, with an advisory release via PR Newswire. A live investor presentation discussing these results will take place at 9 a.m. ET on the same day, including insights on NextEra Energy Partners, LP (NYSE: NEP). The financial results and accompanying slides will be downloadable from www.NextEraEnergy.com/FinancialResults starting at 7:30 a.m. ET.