Xcel Energy joins NextEra Energy Resources for ribbon-cutting
ceremony at Limon wind farms
LIMON, Colo., Oct. 29, 2012 /PRNewswire/ -- Ranchers, federal,
state and local officials, along with energy industry leaders,
gathered today for the ribbon-cutting ceremony for NextEra Energy
Resources' Limon I and II Wind Energy Centers.
(Logo: http://photos.prnewswire.com/prnh/20110421/FL87524LOGO
)
NextEra Energy Resources, the nation's largest generator of wind
power, hosted the event and was joined by Xcel Energy and about 150
guests.
The 400-megawatt (MW) facility, located about 90 miles southeast
of Denver, is comprised of twin
200-MW projects that are spread across more than 55,000 acres in
Arapahoe, Elbert and Lincoln counties. The projects are owned and
will be operated by affiliates of NextEra Energy Resources. All of
the power from both projects is being sold to Xcel Energy under
long-term contracts.
"Wind energy harnessed in Colorado and across the country has to be part
of any true 'all of the above' strategy that moves us closer to
energy independence," said U.S. Rep. Cory
Gardner. "That is why we should extend the production tax
credit to promote wind energy that leads to private sector
investment like this one, new manufacturing jobs and a clean source
of domestic energy. I'm proud to be part of the effort to continue
Colorado's rapid expansion into
energy production and clean energy technology."
Colorado Gov. John Hickenlooper said, "Wind continues to
deliver cost-competitive energy. The Limon wind projects will provide clean,
affordable energy to the Front Range while helping to build strong,
vibrant rural communities. From providing power to food, the
Eastern Plains are helping to grow a stronger Colorado economy."
Each Limon project consists of
125 GE 1.6-MW wind turbines. In addition to the wind farms, an
approximately 45-mile-long, 345-kilovolt transmission line was
built to interconnect the wind farms to the Missile Site substation
in Arapahoe County.
"These projects will bring the amount of wind on our
Colorado system to 2,200
megawatts. They offer some of the lowest-priced wind energy we've
seen. And they demonstrate that renewable energy can compete on an
economic basis with more traditional forms of generation fuel,"
said David Eves, president and CEO
of Public Service Co. of Colorado,
an Xcel Energy company. "They also help us meet the state's
Renewable Energy Standard at a very reasonable cost to our
customers."
The Limon I and II projects are NextEra Energy Resources' fourth
and fifth wind projects in Colorado, bringing its combined installed
capacity to approximately 975 MW, or enough power for more than
450,000 average homes. Xcel Energy, through its subsidiary, Public
Service Company of Colorado,
purchases all of the output from NextEra Energy Resources' wind
facilities in Colorado.
"Xcel Energy is a valued customer, and we appreciate their
commitment to wind energy," said Armando
Pimentel, president and CEO of NextEra Energy
Resources. "In addition to generating clean, emission-free
energy, these two projects will have a positive impact on the local
economy for years to come. With continued public policy support for
wind energy generation, we look forward to bringing the economic
and environmental benefits of wind energy to other communities
across the state and nation."
At the peak of construction, the two projects directly employed
more than 300 workers. During the initial 25 years of operation,
NextEra Energy Resources estimates the two projects will generate
approximately $130 million in the
form of state and local tax payments and landowner royalties.
The Limon I and II Wind Energy Centers are part of the
approximately 1,500 MW of U.S. wind projects that NextEra Energy
Resources expects to bring into service by the end of 2012. This
will be the biggest wind program ever completed in this country in
a single year and will push NextEra Energy Resources' total wind
portfolio over the 10,000 MW mark.
About NextEra Energy Resources
NextEra Energy
Resources, LLC (together with affiliated entities, "NextEra Energy
Resources"), is a clean energy leader and is one of the largest
competitive energy suppliers in North
America, operating in 22 states and Canada as of year-end 2011. NextEra Energy
Resources is the largest generator in the
United States of renewable energy from the wind and sun,
owning and operating approximately 8,569 megawatts of wind and 158
megawatts of solar power generation at the end of 2011. The
business operates clean, emissions-free nuclear power generation
facilities in New Hampshire,
Iowa and Wisconsin as part of the NextEra Energy
nuclear fleet, which has the third largest number of commercial
nuclear power units in the United
States. NextEra Energy Resources is a subsidiary of
Juno Beach, Fla.-based NextEra
Energy, Inc. (NYSE: NEE). For more information, visit
www.NextEraEnergyResources.com.
About Xcel Energy
Xcel Energy (NYSE: XEL) is a major
U.S. electricity and natural gas company with regulated operations
in eight Western and Midwestern states. Xcel Energy provides a
comprehensive portfolio of energy-related products and services to
3.4 million electricity customers and 1.9 million natural gas
customers through its regulated operating companies. Company
headquarters are located in Minneapolis. More information is available at
www.xcelenergy.com.
Cautionary Statements and Risk Factors That May Affect Future
Results
This press release contains "forward-looking statements" within
the meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements are not
statements of historical facts, but instead represent the current
expectations of NextEra Energy, Inc. (NextEra Energy) and
Florida Power & Light Company
(FPL) regarding future operating results and other future events,
many of which, by their nature, are inherently uncertain and
outside of NextEra Energy's and FPL's control. In some cases,
you can identify the forward-looking statements by words or phrases
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"believe," "intend," "plan," "seek," "aim," "potential,"
"projection," "forecast," "predict," "goals," "target," "outlook,"
"should," "would" or similar words or expressions. You should not
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not a guarantee of future performance. The future results of
NextEra Energy and FPL are subject to risks and uncertainties that
could cause their actual results to differ materially from those
expressed or implied in the forward-looking statements. These risks
and uncertainties include, but are not limited to, the following:
effects of extensive regulation of NextEra Energy's and FPL's
business operations; inability of NextEra Energy and FPL to recover
in a timely manner any significant amount of costs, a return on
certain assets or an appropriate return on capital through base
rates, cost recovery clauses, other regulatory mechanisms or
otherwise; impact of political, regulatory and economic factors on
regulatory decisions important to NextEra Energy and FPL; risks of
disallowance of cost recovery by FPL based on a finding of
imprudent use of derivative instruments; effect of any reductions
to or elimination of governmental incentives that support renewable
energy projects of NextEra Energy Resources, LLC and its affiliated
entities (NextEra Energy Resources); impact of new or revised laws,
regulations or interpretations or other regulatory initiatives on
NextEra Energy and FPL; effect on NextEra Energy and FPL of
potential regulatory action to broaden the scope of regulation of
OTC financial derivatives and to apply such regulation to NextEra
Energy and FPL; capital expenditures, increased cost of operations
and exposure to liabilities attributable to environmental laws and
regulations applicable to NextEra Energy and FPL; effects on
NextEra Energy and FPL of federal or state laws or regulations
mandating new or additional limits on the production of greenhouse
gas emissions; exposure of NextEra Energy and FPL to significant
and increasing compliance costs and substantial monetary penalties
and other sanctions as a result of extensive federal regulation of
their operations; effect on NextEra Energy and FPL of changes in
tax laws and in judgments and estimates used to determine
tax-related asset and liability amounts; impact on NextEra Energy
and FPL of adverse results of litigation; effect on NextEra Energy
and FPL of failure to proceed with projects under development or
inability to complete the construction of (or capital improvements
to) electric generation, transmission and distribution facilities,
gas infrastructure facilities or other facilities on schedule or
within budget; impact on development and operating activities of
NextEra Energy and FPL resulting from risks related to project
siting, financing, construction, permitting, governmental approvals
and the negotiation of project development agreements; risks
involved in the operation and maintenance of electric generation,
transmission and distribution facilities, gas infrastructure
facilities and other facilities; effect on NextEra Energy and FPL
of a lack of growth or slower growth in the number of customers or
in customer usage; impact on NextEra Energy and FPL of severe
weather and other weather conditions; risks associated with threats
of terrorism and catastrophic events that could result from
terrorism, cyber attacks or other attempts to disrupt NextEra
Energy's and FPL's business or the businesses of third parties;
risk of lack of availability of adequate insurance coverage for
protection of NextEra Energy and FPL against significant losses;
risk to NextEra Energy Resources of increased operating costs
resulting from unfavorable supply costs necessary to provide
NextEra Energy Resources' full energy and capacity requirement
services; inability or failure by NextEra Energy Resources to hedge
effectively its assets or positions against changes in commodity
prices, volumes, interest rates, counterparty credit risk or other
risk measures; potential volatility of NextEra Energy's results of
operations caused by sales of power on the spot market or on a
short-term contractual basis; effect of reductions in the liquidity
of energy markets on NextEra Energy's ability to manage operational
risks; effectiveness of NextEra Energy's and FPL's hedging and
trading procedures and associated risk management tools to protect
against significant losses; impact of unavailability or disruption
of power transmission or commodity transportation facilities on
sale and delivery of power or natural gas by FPL and NextEra Energy
Resources; exposure of NextEra Energy and FPL to credit and
performance risk from customers, hedging counterparties and
vendors; risks to NextEra Energy and FPL of failure of
counterparties to perform under derivative contracts or of
requirement for NextEra Energy and FPL to post margin cash
collateral under derivative contracts; failure or breach of NextEra
Energy's and FPL's information technology systems; risks to NextEra
Energy and FPL's retail businesses of compromise of sensitive
customer data; risks to NextEra Energy and FPL of volatility in the
market values of derivative instruments and limited liquidity in
OTC markets; impact of negative publicity; inability of NextEra
Energy and FPL to maintain, negotiate or renegotiate acceptable
franchise agreements with municipalities and counties in
Florida; increasing costs of
health care plans; lack of a qualified workforce or the loss or
retirement of key employees; occurrence of work strikes or
stoppages and increasing personnel costs; NextEra Energy's ability
to successfully identify, complete and integrate acquisitions;
environmental, health and financial risks associated with NextEra
Energy's and FPL's ownership of nuclear generation facilities;
liability of NextEra Energy and FPL for significant retrospective
assessments and/or retrospective insurance premiums in the event of
an incident at certain nuclear generation facilities; increased
operating and capital expenditures at nuclear generation facilities
of NextEra Energy or FPL resulting from orders or new regulations
of the Nuclear Regulatory Commission; inability to operate any of
NextEra Energy Resources' or FPL's owned nuclear generation units
through the end of their respective operating licenses; liability
of NextEra Energy and FPL for increased nuclear licensing or
compliance costs resulting from hazards posed to their owned
nuclear generation facilities; risks associated with outages of
NextEra Energy's and FPL's owned nuclear units; effect of
disruptions, uncertainty or volatility in the credit and capital
markets on NextEra Energy's and FPL's ability to fund their
liquidity and capital needs and meet their growth objectives;
inability of NextEra Energy, FPL and NextEra Energy Capital
Holdings, Inc. to maintain their current credit ratings; risk of
impairment of NextEra Energy's and FPL's liquidity from inability
of creditors to fund their credit commitments or to maintain their
current credit ratings; poor market performance and other economic
factors that could affect NextEra Energy's and FPL's defined
benefit pension plan's funded status; poor market performance and
other risks to the asset values of NextEra Energy's and FPL's
nuclear decommissioning funds; changes in market value and other
risks to certain of NextEra Energy's investments; effect of
inability of NextEra Energy subsidiaries to upstream dividends or
repay funds to NextEra Energy or of NextEra Energy's performance
under guarantees of subsidiary obligations on NextEra Energy's
ability to meet its financial obligations and to pay dividends on
its common stock; and effect of disruptions, uncertainty or
volatility in the credit and capital markets of the market price of
NextEra Energy's common stock. NextEra Energy and FPL discuss these
and other risks and uncertainties in their annual report on Form
10-K for the year ended December 31,
2011 and other SEC filings, and this press release should be
read in conjunction with such SEC filings made through the date of
this press release. The forward-looking statements made in this
press release are made only as of the date of this press release
and NextEra Energy and FPL undertake no obligation to update any
forward-looking statements.
SOURCE NextEra Energy Resources, LLC