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					</table><p>U.S.-based renewables firm <a href="https://www.nexteraenergy.com/" target="_blank" rel="noopener">NextEra Energy</a> said its first-quarter net income rose 12% year-over-year to $2.27 billion and that it expects data centers to drive electricity demand higher.</p>
<p>The company has 3.5 GW in data center capacity operational and looks to add another 3 GW to 3.5 GW in its backlog from technology providers while seeing a 15% CAGR through the end of the decade for electricity demand from data centers.</p>
<p>“The re-domestication of industry to the U.S., supported by public policy, will drive the need for more electricity, and the tech industry is going to need data centers to support the expected cloud capacity demands that come with artificial intelligence applications,” said John Ketchum, NextEra&#8217;s Chairman, and CEO during a post-earnings conference call with analysts.</p>
<p>The Florida-based holding company for regulated retail utility Florida Power &amp; Light (<a href="https://www.fpl.com/" target="_blank" rel="noopener">FPL</a>) and renewables generation subsidiary <a href="https://www.nexteraenergyresources.com/" target="_blank" rel="noopener">NextEra Energy Resources</a> posted an adjusted net income surge from $2.08 billion last year.</p>
<p>The quarterly revenue, however, dipped 14.6% to $5.73 billion from $6.71 billion last year, partly due to lower contributions from NextEra Energy Resources.</p>
<p>NextEra’s revenue in Q1 dropped 33% to $1.87 billion from $2.79 billion, while FPL’s revenue dipped 2% to $3.83 billion from $3.92 billion in Q1 2023.</p>
<p>The company&#8217;s renewables backlog grew at a rapid clip in the quarter. NextEra Energy Resources added about 2,765 MW of new wind, solar, and energy storage projects to its backlog, marking its second-best quarter ever. Meanwhile, FPL placed 1,640 MW of solar into service.</p>
<p>FPL, NextEra&#8217;s Florida utility business serving more than 12 million customers, reported a net income of $1.87 billion in Q1, up 9% from $1.68 billion in the prior year. FPL&#8217;s growth was driven by continued investments in the business, with capital expenditures totaling around $2.3 billion in the quarter and strong customer growth.</p>
<p>FPL’s average number of customers rose by more than 100,000 from the comparable prior-year quarter, marking its strongest quarter of customer growth in over 15 years.</p>
<p>Meanwhile, NextEra Energy Resources, which generates clean energy from solar, wind, and nuclear power, saw its adjusted net income jump by 13% to $828 million from $732 million last year. The company&#8217;s total renewables backlog now stands at 21.5 GW, making it one of the biggest renewable energy firms in the world.</p>
<p>Last year, NextEra said it would <a href="https://www.mercomindia.com/nextera-sell-natural-gas-assets-focus-on-renewables" target="_blank" rel="noopener">focus</a> solely on growing its renewable energy portfolio and selling off its natural gas assets.</p>
<p>Its net income <a href="https://www.mercomindia.com/nextera-net-income-q2-23-higher-renewable" target="_blank" rel="noopener">rose</a> by more than 100% in the second quarter of last year, helped by the execution of growth initiatives by the company’s clean energy generation vertical.</p>


NextEra Energy’s Q1 Profit Rises 12%, Expects Higher Demand from Data Centers


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					</table><p>U.S.-based energy company <a href="https://www.nexteraenergy.com/" target="_blank" rel="noopener">NextEra Energy</a> reported a net income of $2.79 billion for the second quarter (Q2) of 2023, an increase of over 102% year-over-year (YoY), driven by successful execution of growth initiatives by the company&#8217;s clean energy generation vertical.</p>
<p>The company posted earnings of $1.7 billion for the quarter, an increase of 11% YoY.</p>
<p>NextEra Energy is a holding company for a regulated retail utility (the combined Florida Power &amp; Light (FPL) and Gulf Power that together have about six million customer accounts and an unregulated generation subsidiary, NextEra Energy Resources, which generates clean energy from solar, wind, and nuclear power.</p>
<p>NextEra Energy Resources reported a net income of $1.46 billion in Q2 2023, a substantial YoY increase of 1,000%. On an adjusted basis, NextEra Energy Resources&#8217; earnings for the second quarter of 2023 were $781 million, an increase of 14% YoY.</p>
<p>The company added approximately 1,665 MW of new renewables and storage projects to its backlog since the release of its first-quarter results.</p>
<p>The additions to the backlog include 1,215 MW of solar, 150 MW of wind, and 300 MW of storage capacity, bringing the company’s current backlog to 20 GW. The company successfully placed more than 1.8 GW of capacity into operation.</p>
<p>FPL reported a net income of $1.15 billion for the April-June period, an increase of 16% YoY.</p>
<p>The retail utility company experienced significant growth, primarily fueled by its ongoing commitment to strategic investments in the business. FPL&#8217;s capital expenditures for the same quarter amounted to approximately $2.5 billion. The company anticipates its full-year capital investments to fall within the range of $8.5 billion to $9.5 billion.</p>
<p>During the second quarter, FPL successfully executed its strategic initiatives, placing approximately 225 MW of cost-effective solar in service, bringing the total 2023 solar additions to nearly 1,200 MW.</p>
<p>Kirk Crews, Executive Vice President, and Chief Financial Officer of NextEra Energy, said, “During the quarter, we continue to see solid demand for renewables and storage across power and commercial and industrial customers. After a period of underlying commodity price inflation, supply chain disruption, and trade policy risk premiums, we are finally seeing signs of stability, which will be helpful in our customer conversations. We believe renewables remain economically attractive to alternative forms of generation and position ourselves to meet long-term customer demand by expanding our significant pipeline of renewable projects.”</p>
<p>The company recently announced that it would focus solely on <a href="https://www.mercomindia.com/nextera-sell-natural-gas-assets-focus-on-renewables" target="_blank" rel="noopener">growing</a> its renewable energy portfolio and selling off its STX Midstream and Meade natural gas pipeline assets in 2023 and 2025.</p>
<p>Last December, NextEra Energy Resources <a href="https://www.mercomindia.com/daily-news-wrap-up-fashion-retailer-hm-mw-solar-ppa" target="_blank" rel="noopener">signed</a> a renewable power purchase agreement with chemical company INEOS Olefins &amp; Polymers USA for a 310 MW solar project in Texas.</p>


NextEra’s Net Income Jumps 102% YoY in Q2, on Higher Renewable Additions

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