A New Era for Next Era Energy
NextEra is North America\u2019s largest electric utility. It generates 58 GW of power every year and distributes it to 13 million people through its Florida Power & Light (FP&L) company in Florida. At a recent stock price of $54, it has a market capitalization of $110 billion. That puts it squarely in the \u201cboring, mega-cap utility\u201d sector of an investor\u2019s portfolio allocation bucket.
\nYet there\u2019s an interesting catalyst that\u2019s powering future growth. NextEra has committed to expanding its renewable presence, aggressively building wind farms, solar plants, and battery storage facilities. In 2021, it closed down its last remaining coal power plant in Florida and also installed the\xa0world\u2019s largest solar-powered battery storage system.
\nJT Street and Simon Erickson break down what's powering the next era of NextEra Energy.