“Turning to NextEra Energy Partners, we continue to focus on executing against the partnership's transition plans and delivering an LP distribution growth target of 6% through at least 2026.”

In context

“ns for new renewables and storage projects. We believe Energy Resources has the most comprehensive renewable energy business in the world and is better positioned than ever to capitalize on long-term growth prospects. FPL and Energy Resources individually have executed well, delivering value for our customers, both businesses complement each other, push one another to be better, and together create scale and foster innovation. We have one of the sectors strongest balance sheets and constructed and placed in the service roughly 6, 800 megawatts of new renewables and storage projects in 2023. To put that into context, 6, 800 megawatts of installed U.S. renewable generating capacity is enough on its own to rank as the fourth largest U.S. renewable energy company and the 14th largest utility. Turning to NextEra Energy Partners, we continue to focus on executing against the partnership's transition plans and delivering an LP distribution growth target of 6% through at least 2026. Last September, we made the tough decision to reduce the target distribution growth rate to 6% when NextEra Energy Partners no longer benefited from a competitive cost to capital. With a growth rate now comparable to its peers, we are focused on the partnership's cost to capital improving, which is critical for its future success. Towards that end, we are evaluating alternatives to address the remaining convertible equity portfolio financings with equity buyout obligations in 2027 and beyond. We are executing against the transition plans and with the closing of the Texas Pipeline portfolio sale, the partnership has addressed two of the three near-term convertible equity portfolio financings. The STX Midstream convertible equity portfolio financing has been extinguished and we have suffici”