NextEra Energy Inc. has reported $809 million in earnings for the third quarter of 2016 – compared with $730 million in the same quarter last year – citing significant contributions from new investments and advances in its development program, having added roughly 2,000 MW of wind repowering and new renewables projects to its backlog.
“NextEra Energy delivered strong third-quarter results and, as a result, remains well-positioned to achieve our overall objectives for 2016,” says Jim Robo, chairman and CEO of NextEra Energy. “Energy Resources had an excellent period of new project origination, adding almost 2,000 MW to our backlog, including approximately 600 MW of new wind projects and roughly 1,300 MW of additional repowering opportunities.
“The business remains on track to support delivery of roughly 2,500 MW of new contracted renewables projects in 2016. We remain enthusiastic about the fundamentals for North American renewables growth, driven by the continued execution of our development organization,” he says.
In addition, NextEra also announced that one of its affiliates will merge with Texas Transmission Holdings Corp. (TTHC), including TTHC’s approximately 20% indirect interest in Oncor Electric Delivery Co.
“We believe this transaction further affirms our long-term commitment to partnering with Oncor for the benefit of its customers and the state of Texas. Together with Oncor, we expect to make our filing by Nov. 1 with the Public Utility Commission of Texas requesting approval of our two proposed Oncor-related merger transactions,” Robo adds.