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NextEra to Invest US$34 billion On Energy Projects over the next 3 Years

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Published on : Mar 12, 2015

NextEra Energy Inc., the Florida based company who are all set to buy Hawaiian Electric Co. in a deal worth US$4.3 billion, is planning to invest a whopping US$34 billion on different energy projects over the next three years, as per public records. The company is also eyeing to register growth of about 7 per cent through 2018 with respect to it’s per share earnings. 

The senior executives and senior management team of NextEra Energy is planning to meet at the 2015 Investor Conference, to be held at New York on Wednesday to discuss the long term goals and growth expectations of the company. The company spokes person said on the US Security and Exchange Commission filing on Wednesday that the company is projected to register growth up to US$5.70 with respect to the per share adjusted earnings in 2015, upto US$6.25 per share in 2016 and US$7 per share by the end of 2018. 

NextEra Energy spokesperson said that the company is expecting to invest up to US$34 billion of capital between 2015 and 2018, apart from US$15.6 billion that it is planning to invest at Florida Power & Light Co., its utility subsidiary, on projects focusing on reducing the average fuel cost, fuel emissions, improving reliability of energy produced, and maintenance of the assets existing. 

NextEra Energy Resources, another subsidiary of NextEra Energy is also gearing up to invest about US$5.7 billion on new wind projects, which will possess a capacity of generating up to 3,300 megawatt of energy. The company is also planning on investing US$4.6 billion on new solar projects that will have an energy generation capacity of almost 1,800 megawatts, and US$4.5 billion on projects, which will primarily focus on developing and improving the natural gas and natural fuel infrastructure apart from the maintenance of the existing assets. 

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