litigation with them.
Wind, solar developments to receive $5.8bn from NextEra
Jul 28, 2011
NextEra Energy Resources LLC, a unit of NextEra Energy Inc. (NYSE: NEE),
plans to spend as much as $5.8 billion in the next three years to build wind
and solar projects.
Bloomberg reports that NextEra plans to spend between $2.3 billion to $2.7
billion through 2014 on solar projects, and $2.7 billion to $3.1 billion on
wind farms. The projects will reportedly supply electricity for power
purchase agreements (PPA) it has already completed or expects to complete
soon.
NextEra said it signed 632 MW of PPAs for wind farms since 1Q 2011,
including 469 MW for projects in Canada that the company expects to come
online in 2013 and 2014.
The company has power contracts totaling more than 1.1 GW of wind projects
in the U.S. and Canada that entered service this year or are expected to do
so by 2012. NextEra said in a statement it plans to add 1,400 MW to 2,000 MW
of wind to its portfolio in 2011 and 2012 combined.
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