“by the end of that period, we expect our suppliers to be making ingots and wafers outside of China.”

In context

“rowth that is expected at Energy Resources over the next few years. We remain confident in our long-term development expectations at Energy Resources, which we increased and extended last month. From 2022 through the end of 2025, Energy Resources expects to build roughly 28 to 37 gigawatts of renewables and storage projects. To put these numbers in context, this expected renewables and storage build at the midpoint is approximately 30% larger than the entire renewables operating portfolio at Energy Resources today. We were pleased that the Biden administration made the decision last month to direct the Department of Commerce to waive additional duties for two years on solar panels imported from Malaysia, Thailand, Cambodia and Vietnam. The 24-month time frame is particularly important, as by the end of that period, we expect our suppliers to be making ingots and wafers outside of China. As a reminder, the Department of Commerce staff already publicly stated that panels with wafers made outside of China are not subject to its investigation. The actions by the Biden administration have provided much needed clarity to our suppliers to resume solar module production, recommence shipping of solar panels and for energy resources to restart its solar construction projects that have been halted due to the circumvention investigation. These new developments since our last call reinforce our confidence in both our near-term and long-term development expectations at Energy Resources. The accompanying slide provides additional details on where our development program at Energy Resources now stands. Beyond renewables and storage, during the quarter, NextEra Energy Water entered into”