United States

United States

FPL Group officially rebrands as NextEra

US: FPL Group, the parent company of number one US wind developer NextEra, has officially changed its name to NextEra Energy.

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The move will involve the company’s New York stock exchange listing changing from FPL Group to ‘NEE’.

The aim behind the move is to better reflect the company’s clean energy credentials. In addition to owning over 7.5GW of wind projects, NextEra has interests in nuclear and solar power as well as 13 natural gas power plants.

NextEra Energy CEO Lew Hay said: "Our clean energy strategy has allowed us to achieve impressive growth over the past decade. We’ve more than doubled our total generating capacity from about 19.5GW to nearly 43GW, including more than 10GW of clean, emissions-free generation from wind, solar and nuclear. In an industry not known for growth, this is a pretty remarkable achievement."

In May the normally secretive company revealed plans to invest $7-10billion and add up to 3.5-5GW of new wind generation by 2014.

The Florida-based subsidiary of FPL Group, which added over 1GW of wind projects in nine states last year, also acknowledged that 2010 will be less than robust. The company only expects to add 1.4-1.8GW by the end of 2011.

"It will be a smaller build the next couple of years," said Mike O'Sullivan, NextEra vice-president of development. "That does not mean it's a bad build."

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