Canada

Canada

NextEra expands wind capacity with 754MW in 2010

UNITED STATES: NextEra Energy aggressively expanded its wind power capacity in 2010, installing 754MW in North America including 70MW of acquisitions.

This took the company’s total capacity to 8.3GW and it ended the year as the largest owner of wind generation in the US and the fourth largest in Canada.

The company also sold 1.24GW of wind power purchase agreements last year.

NextEra is expecting to continue the expansion of its wind and solar portfolios. Chairman and CEO Lew Hay said: "Going forward, our two main businesses provide us with an enviable portfolio of opportunities that we expect will deliver attractive returns at reasonable risk levels."

Quarterly profits were weaker than expected. Net income for the fourth quarter of 2010 fell 22% to $263 million, or 63 cents per share, from $349 million, or 85 cents per share, in the same period of 2009.

In May the company revealed plans to invest $7-10billion and add up to 3.5-5GW of new wind generation by 2014, acknowledging that 2010 would be a weaker year.

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