NextEra Energy’s growing renewable energy business has helped the company increase adjusted net profit in the first quarter of this year by almost 15% to $715m from $631m in 2015.
The US utility said that its energy resources unit is capitalizing from growing demand in what is one of the best environments for new renewables in recent history. The continued growth of its renewables portfolio added $0.10 to the company’s total adjusted profit per share of $1.41.
The results reflect the 1.84GW of new clean energy projects installed since the start of last year, it said. Recent acquisitions have taken its 2015-2016 renewables development program to more than 4GW, a record for the company.
NextEra Energy Resources now expects its 2017-2018 program to achieve similar results to its record 2015-2016 origination efforts.
Image: NextEra
