NextEra plans to invest additional USD 85-95bn in green transition efforts

The investments are meant to ensure NextEra an even larger share of the approximately USD 2,000bn market for green energy in the US.

BY MARKETWIRE, TRANSLATED BY CHRISTOFFER ØSTERGAARD

Towards 2025, NextEra, one of the leading companies in green energy in the US, is set to invest an additional USD 85-95bn in the transition away from fossil fuels to green energy, reports Recharge News.

The investments are meant to ensure NextEra an even larger share of the approximately USD 2.trn market for green energy in the US.

The investment sums of USD 85-95bn will be directed towards both energy storage and projects for generating wind and solar energy.

NextEra is the owner of utility Florida Power & Light, which is the largest supplier of energy in the US and which closed its last coal-fired power plant in 2020. Instead, FPL has invested in photovoltaic projects, commissioning the world’s largest solar power battery at 409W in 2021.

NextEra’s other large subsidiary is NextEra Energy Resources, which has set up a swathe of solar and wind projects, including both power generation and energy storage.

However, NextEra Energy Resources has opted to steer clear of offshore wind, with former CEO Jim Robo deeming it ”bad business” and ”really expensive” to develop projects.

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