CLAIM #45325 · Nextera Energy Inc (NEE) · 2023Q4 earnings call · Jan 25, 2024 · due Dec 31, 2026
“So overall, with all those comments in context, I feel really good about meeting our development expectations in aggregate.”
Rebecca J. Kujawa · CEO of NextEra Energy Resources
How to check this claim
Look at: Total renewable development additions (aggregate MW/GW added to backlog and placed in service across technologies) versus previously disclosed development expectation ranges
It came true if: Cumulative development additions through year-end 2026 fall within the company's previously disclosed aggregate range
Where: Company-disclosed development backlog and in-service additions (10-K / quarterly earnings materials and investor presentations)
In context
“d that they would see in their underlying business. And so getting to market quickly is very much a premium and a priority, and we're there to serve them well. In that storage market, as we've talked about from a returns characteristic standpoint, it's an awful lot like wind, and it's certainly complex to deliver the value that our customers are looking for in the various streams. I'd say the other part that is at least as strong as we anticipated when we laid out the expectations is repowering. And we're excited about the economics of that and economics specifically in context to the value that it brings to our customers, bringing some incremental generation and extending the life of these projects, often extending the contracts with our customers at the same times that we do repowering. So overall, with all those comments in context, I feel really good about meeting our development expectations in aggregate. We'll continue to look at the mix in individual technologies over time. But at this point, we are obviously leaving the ranges as we've had them now for a couple of years, in part to reflect what I'm sure you recall, wind is a very short development cycle. Maybe not the actual laying the groundwork to be able to build a project, but when we enter into a contract and acquire the term and put it into service, it can be as short as nine months. So there's still a lot of time left between now and the end of ‘26 to add more wind to not only the backlog, but ultimately commission. And when I look at the forward couple of quarters, there are a couple of chunky opportunities that our teams are working on, and I feel good about bringing them some of those to fruition. David Arcaro: Excellent. Than”
Verify independently
SEC filings for NEE ↗ · Claim quote is verbatim from the 2023Q4 earnings call.