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NextEra plans $3.1 billion wind investment

UNITED STATES: US number one wind developer NextEra has announced it will spend up to $3.1 billion on wind projects over the next three years.

The company’s CEO Lewis Hay announced the plans as part of NextEra’s Q2 results presentation. Its earnings have risen by 38% compared to the same period in 2010.

Hay also said NextEra would spend $2.3-$2.7 billion on solar projects.

The company said its wind business had played a large part in the positive results. It has built over 900MW over the last year and has signed 632MW of power-purchase agreements since the first quarter.

In 2010, 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.

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