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NextEra triples US target

UNITED STATES: A confident NextEra Energy said it will build between 2.4GW and 3.8GW of new wind in the US in 2017-2018, plus 300MW in Canada.

NextEra has more than 12.4GW of wind projects online in North America
NextEra has more than 12.4GW of wind projects online in North America

The low end of the range is roughly three times NextEra's prediction from March 2015, executives said during the company's first quarter 2016 earnings call.

For 2015-2016, the company expects to bring 4GW online, about 500MW above the midpoint of the range it publicised in March 2015.

John Ketchum, senior vice president, said: "2015 and 2016 [is] the most successful two-year period for renewables development in our history."

He cited the extension of the wind production tax credit and the solar investment tax credit in December as a major reason for the boom.

The company reported a net income of $636 million, or $1.37 per share, for Q1, compared with a net income of $650 million, or $1.45 per share, a year ago.

Florida-based NextEra has more than 12.4GW of wind projects online in North America.

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