“Energy Resources continues to see strong demand and is well positioned to realize its development expectations over the four year period ending 2026.”

In context

“e for keeping the lights on for approximately $2 billion per day of Florida's GDP. These long-term growth prospects coupled with investment opportunities and renewables and transmission and distribution infrastructure enhance our best-in-class customer value proposition and support our belief that FPL is the highest quality rate regulatory utility in the country. Energy Resources' deep expertise in renewables and transmission serves as a key differentiator with customers. As a result of our data-driven development playbook, Energy Resources had a record year of new renewables and storage origination, adding approximately 9, 000 megawatts to our backlog. Driven in part by the roughly 5, 600 megawatts placed in service in 2023, Energy Resources grew adjusted earnings almost 13% versus 2022. Energy Resources continues to see strong demand and is well positioned to realize its development expectations over the four year period ending 2026. Assuming we achieve the midpoint of the range, Energy Resources will be operating a roughly 63 gigawatt renewable portfolio by the end of 2026. That would be larger than the installed renewables capacity of all but nine countries. Energy Resources also is extending its excellent track record of optimizing our existing footprint to create additional shareholder value. To date, we have repowered six gigawatts of our existing 24 gigawatt wind operating fleet, investing roughly 50% to 80% of the cost of a new build and starting a new 10 years of production tax credits, resulting in attractive returns for shareholders. By 2026, Energy Resources' wind footprint could be roughly 32 gigawatts, and with over a decade to potentially qualify for repowering, it represents a great opportunity set. We”