TWO RIVERS, Wis., Jan. 30, 2017 /PRNewswire/ -- WPPI Energy
and NextEra Energy Resources, a subsidiary of NextEra Energy, Inc.
(NYSE: NEE), today announced plans to build a 100-megawatt solar
energy center – Wisconsin's
largest – with a capacity to serve more than 23,000 people with
affordable, clean energy.
"This solar energy center adds diversity to WPPI Energy's power
supply portfolio in a way that's more cost-effective than other
opportunities currently available to us," said Mike Peters, president and CEO of WPPI Energy.
"In addition, WPPI Energy has achieved significant emissions
reductions over the past 10 years, and the clean, renewable energy
generated by this project will help us continue that effort."
WPPI Energy has entered into a 20-year power purchase agreement
to buy the electricity from the solar energy center to serve its 51
member utilities and their customers across Wisconsin, Upper Michigan and Iowa.
"We are pleased to partner with WPPI Energy to bring the largest
universal solar energy center to Wisconsin," said Mike
O'Sullivan, senior vice president of Development for NextEra
Energy Resources, the world's largest generator of renewable energy
from the wind and the sun. "This energy center will harness the
state's own sunshine to create clean, renewable energy, as well as
good-paying jobs and increased tax revenue for the state and local
community."
NextEra Energy Resources plans to build and operate the Point
Beach Solar Energy Center on land adjacent to its existing Point
Beach Nuclear Plant in Two Rivers.
The project will create 150-200 jobs during its construction
period, which typically lasts six to nine months. The Point Beach
Solar Energy Center is scheduled to come online in 2021.
NextEra Energy Resources
NextEra Energy
Resources, LLC (together with its affiliated entities, "NextEra
Energy Resources"), is a clean energy leader and is one of the
largest wholesale generators of electric power in the U.S., with
approximately 18,260 megawatts of generating capacity, which
includes megawatts associated with noncontrolling interests related
to NextEra Energy Partners, LP (NYSE: NEP), primarily in 25 states
and Canada as of April 2016. NextEra Energy Resources, together
with its affiliated entities, is the world's largest generator of
renewable energy from the wind and sun. 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 is one of the largest in the United States. NextEra Energy Resources,
LLC is a subsidiary of Juno Beach,
Fla.-based NextEra Energy, Inc. (NYSE: NEE). For more
information, visit www.NextEraEnergyResources.com.
WPPI Energy
WPPI Energy is a not-for-profit,
regional power company serving 51 locally owned electric utilities
in Wisconsin, Upper Michigan and
Iowa. WPPI Energy strives to
deliver reliable, low-cost wholesale electricity, best-in-class
services and effective advocacy for its member utilities and the
200,000+ customers they serve. For more information, visit
www.wppienergy.org.
Cautionary Statements And Risk Factors That
May Affect Future Results
This news 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. (together with its
subsidiaries, NextEra Energy) regarding future operating results
and other future events, many of which, by their nature, are
inherently uncertain and outside of NextEra Energy's control.
Forward-looking statements in this press release include, among
others, statements concerning adjusted earnings per share
expectations and future operating performance, and statements
concerning future dividends. In some cases, you can identify
the forward-looking statements by words or phrases such as "will,"
"may result," "expect," "anticipate," "believe," "intend," "plan,"
"seek," "aim," "potential," "projection," "forecast," "predict,"
"goals," "target," "outlook," "should," "would" or similar words or
expressions. You should not place undue reliance on these
forward-looking statements, which are not a guarantee of future
performance. The future results of NextEra Energy and its
business and financial condition are subject to risks and
uncertainties that could cause actual results to differ materially
from those expressed or implied in the forward-looking statements,
or may require it to limit or eliminate certain operations.
These risks and uncertainties include, but are not limited to, the
following: effects of extensive regulation of NextEra
Energy's business operations; inability of NextEra Energy to
recover in a timely manner any significant amount of costs, a
return on certain assets or a reasonable return on invested 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; disallowance of cost recovery based on a finding of
imprudent use of derivative instruments; effect of any reductions
to, or elimination of, governmental incentives or policies that
support utility scale renewable energy projects or the imposition
of additional taxes or assessments on renewable energy; impact of
new or revised laws, regulations, interpretations or other
regulatory initiatives on NextEra Energy; effect on NextEra Energy
of potential regulatory action to broaden the scope of regulation
of over-the-counter (OTC) financial derivatives and to apply such
regulation to NextEra Energy; capital expenditures, increased
operating costs and various liabilities attributable to
environmental laws, regulations and other standards applicable to
NextEra Energy; effects on NextEra Energy of federal or state laws
or regulations mandating new or additional limits on the production
of greenhouse gas emissions; exposure of NextEra Energy to
significant and increasing compliance costs and substantial
monetary penalties and other sanctions as a result of extensive
federal regulation of its operations; effect on NextEra Energy of
changes in tax laws and in judgments and estimates used to
determine tax-related asset and liability amounts; impact on
NextEra Energy of adverse results of litigation; effect on NextEra
Energy 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 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 of a lack of growth or
slower growth in the number of customers or in customer usage;
impact on NextEra Energy of severe weather and other weather
conditions; threats of terrorism and catastrophic events that could
result from terrorism, cyber attacks or other attempts to disrupt
NextEra Energy's business or the businesses of third parties;
inability to obtain adequate insurance coverage for protection of
NextEra Energy against significant losses and risk that insurance
coverage does not provide protection against all significant
losses; a prolonged period of low gas and oil prices could impact
NextEra Energy's gas infrastructure business and cause NextEra
Energy to delay or cancel certain gas infrastructure projects and
for certain existing projects to be impaired; risk of increased
operating costs resulting from unfavorable supply costs necessary
to provide full energy and capacity requirement services; inability
or failure to manage properly or hedge effectively the commodity
risk within its portfolio; 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 risk
management tools associated with its hedging and trading procedures
to protect against significant losses, including the effect of
unforeseen price variances from historical behavior; impact of
unavailability or disruption of power transmission or commodity
transportation facilities on sale and delivery of power or natural
gas; exposure of NextEra Energy to credit and performance risk from
customers, hedging counterparties and vendors; failure of
counterparties to perform under derivative contracts or of
requirement for NextEra Energy to post margin cash collateral under
derivative contracts; failure or breach of NextEra Energy's
information technology systems; risks to NextEra Energy's retail
businesses from compromise of sensitive customer data; losses from
volatility in the market values of derivative instruments and
limited liquidity in OTC markets; impact of negative publicity;
inability to maintain, negotiate or renegotiate acceptable
franchise agreements; 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, including the effect of
increased competition for acquisitions; NextEra Energy Partners,
LP's (NEP's) acquisitions may not be completed and, even if
completed, NextEra Energy may not realize the anticipated benefits
of any acquisitions; environmental, health and financial risks
associated with ownership and operation of nuclear generation
facilities; liability of NextEra Energy 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 resulting from orders or new regulations of
the Nuclear Regulatory Commission; inability to operate any owned
nuclear generation units through the end of their respective
operating licenses; liability for increased nuclear licensing or
compliance costs resulting from hazards, and increased public
attention to hazards, posed to owned nuclear generation facilities;
risks associated with outages of owned nuclear units; effect of
disruptions, uncertainty or volatility in the credit and capital
markets on NextEra Energy's ability to fund its liquidity and
capital needs and meet its growth objectives; inability to maintain
current credit ratings; impairment of liquidity from inability of
credit providers 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 defined benefit
pension plan's funded status; poor market performance and other
risks to the asset values of 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
pay 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; the fact that
the amount and timing of dividends payable on NextEra Energy's
common stock, as well as the dividend policy approved by NextEra
Energy's board of directors from time to time, and changes to that
policy, are within the sole discretion of NextEra Energy's board of
directors and, if declared and paid, dividends may be in amounts
that are less than might be expected by shareholders; NEP's
inability to access sources of capital on commercially reasonable
terms could have an effect on its ability to consummate future
acquisitions and on the value of NextEra Energy's limited partner
interest in NextEra Energy Operating Partners, LP; and effects
of disruptions, uncertainty or volatility in the credit and capital
markets on the market price of NextEra Energy's common stock.
NextEra Energy discusses these and other risks and uncertainties in
its annual report on Form 10-K for the year ended December 31, 2015 and other SEC filings, and this
news release should be read in conjunction with such SEC filings
made through the date of this news release. The
forward-looking statements made in this news release are made only
as of the date of this news release and NextEra Energy undertakes
no obligation to update any forward-looking statements.
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SOURCE NextEra Energy Resources