United States

United States

NextEra signs 225MW of PPAs in Q1

UNITED STATES: NextEra Energy signed power purchase agreements (PPAs) for 225MW of US wind projects in the first quarter of 2013, putting it on track to add up to 1.5GW of new US capacity to its portfolio by the end of 2014.

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"With the economics of wind improving as a result of better turbine technology and lower turbine prices, wind PPA contracts are very attractively priced.

As a result, buyers are clearly interested in taking advantage of these prices and the production tax credit extension," vice-chairman and chief financial officer Moray Dewhurst told a first quarter earnings conference call Tuesday. Nextera also expects to add roughly 600MW of new wind capacity in Canada through 2015, Dewhurst said.

First quarter adjusted earnings were down slightly at the company's Nextera Energy Resources division, home to its renewable energy business, primarily due to lower wind generation.

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