Released during its third quarter financial results, the figure would more than a doubling of its present renewables and energy storage portfolio, which stood at 38GW as of the end of September.

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NextEra’s Q3 figures reveal the company added nearly 3GW of new renewables to its backlog during the third quarter of 2024, according to John Ketchum, chairman, president and CEO at NextEra Energy. Nearly all the 3GW of backlog capacity comes from solar PV and energy storage, with 1.4GW each. Backlog projects are defined for example as assets with signed long-term power purchase agreements or build-own-transfer projects with long-term O&M agreements in place.

For 2024-25, the development programme for NextEra Energy Resources, a subsidiary of the utility, comprises 7.3GW of PV, split between backlog and commercial operation date (COD) projects, while energy storage is at 3GW. The Southeast region is expected to see most of the solar PV backlog installed between 2024 and 2025 with 2.5GW. It is followed by the Midwest with 2.1GW and Texas with 1.4GW. NextEra Energy Resources started construction on a 310MW solar PV plant in Texas earlier this year.

Between 2024 and 2027, the company expects to develop between 18.5GW and 22.4GW of solar PV across the US.

Ketchum said: “We are also pleased to announce incremental framework agreements with two Fortune 50 customers for the potential development of renewables and storage projects, totaling up to 10.5 gigawatts between now and 2030.”

Regarding the impact of Hurricanes Helene and Milton in Florida, its largest subsidiary utility in the state, Florida Power & Light, sustained no significant damage in its generation fleet, which includes solar PV plants. According to the utility, less than 0.05% of its solar panels were affected by the hurricanes.

During Q3 2024, NextEra Energy registered earnings of US$2.1 billion, up from the US$1.9 billion in the same period a year ago.

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