NextEra Energy targets 81GW of renewables and energy storage by 2027

Facebook
Twitter
LinkedIn
Reddit
Email
The Sonoran Solar Energy Center project in Arizona has 260MW of solar PV capacity and 260MW/1GWh of BESS
Between 2024 and 2027, NextEra targets to develop 13.9GW of solar PV capacity across the US. Image: NextEra Energy Resources.

US utility NextEra Energy Partners is planning to have a renewables and energy storage portfolio of 81GW by 2027.

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.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

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.

13 November 2024
4pm GMT / 8am PST
This webinar by PVcase will provide an understanding of data risk for renewable energy projects and the challenges it poses, providing you with practical strategies and best practices to ensure data accuracy and reliability throughout your entire project. You'll explore innovative solutions offered by PVcase, including end-to-end automation, high-fidelity data analysis, and seamless data transfer, which can transform solar project development. By staying informed about the latest challenges and leveraging cutting-edge technology, you'll maximise project success, protect financial investments, and contribute to the broader goal of accelerating the clean energy transition. Don’t miss this opportunity to enhance the success and reliability of your solar developments.
17 June 2025
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 17-18 June 2025, will be our fourth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2026 and beyond.

Read Next

November 1, 2024
Scatec has published its latest financial results, which include revenues of NOK2.97 billion (US$270 million) in the third quarter of 2024.
November 1, 2024
US residential solar installer Sunnova has published its financial results for Q3 2024, which include net losses of US$52.5 million.
November 1, 2024
Swiss-based solar manufacturer Meyer Burger has registered a net loss of CHF317 million (US$365 million) in the first half of 2024, a nearly fivefold increase from H1 2023 when it had a net loss of CHF65 million.
October 31, 2024
The solar panel recycling factory will be adjacent to the solar glass recycling plant Solarcycle is currently building in Georgia.
October 31, 2024
Figures in the Energy Technology Perspectives 2024 (ETP-24) report show the global market for renewables will triple over the next ten years.
October 31, 2024
For a seventh consecutive quarter, US solar PV tracker manufacturer Nextracker has had a sequential growth in its backlog which sits at over US$4.5 billion.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
November 12, 2024
San Diego, USA
Solar Media Events, Upcoming Webinars
November 13, 2024
4pm GMT / 8am PST
Solar Media Events
November 20, 2024
Zhuhai, China
Solar Media Events
November 21, 2024
London, UK