NextEra Energy Resources, the competitive energy business of FPL Group, has re-evaluated the impact of current market conditions on its wind pipeline and plans to reduce its wind generation this year. The company expects to add between 600 MW and 850 MW this year, excluding any wind assets the company may acquire during the year. This estimated range is down from a prior expectation of about 1,000 MW for this year.
NextEra Energy Resources has added 1,360 MW of new wind projects since the first quarter of 2009, contributing $11.7 million in adjusted earnings, or $0.03 per share on a year-over-year basis. Shortly after the quarter ended, NextEra Energy Resources was awarded 148 MW of wind projects in Ontario, as part of the province's feed-in-tariff program.
NextEra Energy Resources' existing wind assets were negatively impacted by about $48 million, or $0.12 per share, compared with the prior-year quarter, primarily due to a lower wind resource.
SOURCE: FPL Group Inc. Â Â Â
