JUNO BEACH, Fla., July 31, 2018 /PRNewswire/ -- Florida Power
& Light Company today announced the start of construction of
its four newest solar power plants, continuing to build on the
success of its affordable clean energy strategy that has helped
Florida become a leader in clean energy while keeping customer
bills among the lowest in America.
Today, FPL operates 14 major solar power plants and more than
200 smaller solar installations, totaling more than 935 megawatts
of universal solar capacity currently powering customers. The four
new plants, which are expected to be operational by early 2019,
are:
- FPL Interstate Solar Energy Center, St. Lucie County
- FPL Miami-Dade Solar Energy Center, Miami-Dade County
- FPL Pioneer Trail Solar Energy Center, Volusia County
- FPL Sunshine Gateway Solar Energy Center, Columbia County
"Florida is leading the nation in implementing solar energy
affordably," said Eric Silagy, FPL's
president and CEO. "FPL is among the cleanest energy providers in
the nation not because of governmental mandates or requirements,
but because we've been committed to making smart investments in
clean energy technologies for years. And we've proven that it's
possible to be both clean and reliable while keeping our customers'
electric bills among the lowest in the nation."
According to a recent report from GTM Research and the Solar
Energy Industries Association, Florida has installed more solar
capacity in 2018 than any other state except one.
One of the cleanest electric companies in the nation, FPL
projects that solar will outpace coal and oil combined as a
percentage of the company's energy mix by the year 2020. FPL is
aiming to have approximately 10 million solar panels in operation
by 2022 and will be more than halfway to its goal once these four
newest plants are completed.
Each of the four new solar plants will have a capacity of 74.5
megawatts for a total of nearly 300 megawatts. In addition to the
enormous environmental benefits, FPL's four new solar power plants
are expected to produce estimated net lifetime savings of more than
$40 million for FPL customers through
fuel and other savings.
FPL Interstate Solar Energy Center
The newest solar
power plant coming to St. Lucie
County will join three others along the Treasure Coast that
began serving FPL customers earlier this year – the FPL Loggerhead
Solar Energy Center (St. Lucie
County); FPL Indian River Solar Energy Center (Indian River County); and FPL Blue Cypress
Solar Energy Center (Indian River
County).
"Expanding solar energy in St. Lucie
County is a big win for our residents," said Peter Tesch, president of the Economic
Development Council of St. Lucie
County. "It is a great way to utilize the land due to its
environmentally friendly attributes. Our residents will benefit
from the clean energy generated right here in our county."
FPL Miami-Dade Solar Energy Center
FPL plans to add
more than 1 million solar panels across Miami-Dade in the coming years, starting with
the FPL Miami-Dade Solar Energy Center located off Krome Avenue in
southwest Miami-Dade County.
"I am proud to have Miami-Dade
County partner with Florida
Power & Light to bring clean, renewable solar energy to
South Florida," said Miami-Dade County Mayor Carlos A. Gimenez. "Miami-Dade County is committed to a clean and
sustainable future for all of our residents and this is another
step in the right direction toward resiliency."
"Resiliency is one of Miami-Dade
County's top priorities and these solar projects are one of
the ways the County is partnering with the business community to
address our sustainability," said Miami-Dade County Commission Chairman
Esteban Bovo, Jr. "I applaud FPL's
commitment to generate more solar power in Miami-Dade County and for being a partner to
build smarter for the future of all our residents."
FPL Pioneer Trail Solar Energy Center
Known for its
beaches and Daytona International Speedway (where FPL operates one
of the largest solar installations at any sporting venue in the
U.S.), Volusia County will soon be
home to a new 74.5-megawatt solar power plant.
"FPL's installation of this new solar energy center in
Volusia County moves us closer
toward our Sustainability Action Plan goals," said Katrina Locke, the county's sustainability and
natural resources director. "Renewable energy is a great way to
help reduce our greenhouse gas emissions and protect our natural
resources in Volusia County for
future generations."
FPL Sunshine Gateway Solar Energy Center
Located near
the intersection of Interstates 10 and 75 near Florida's northern
border, the FPL Sunshine Gateway Solar Energy Center will give
residents and visitors traveling these roads a glimpse of a major
solar energy operation at work. Once completed, the solar energy
center will be visible from Interstate 75 southbound and Interstate
10 westbound.
"Columbia County is proud to
join FPL's growing fleet of solar power plants. The economic boost
from this project will be felt across the county in the form of
jobs and additional tax revenues for our area," said Glenn Hunter, executive director of economic
development for Columbia
County.
Innovative Environmental Partnerships
FPL continues to
expand its solar stewardship program with environmental
organizations, such as Audubon Florida, to enhance the environments
encompassing the solar plants. The stewardship programs include
planting additional pollinator habitats and preserving
environmentally sensitive areas.
"Our beautiful state has an abundance of sun and great diversity
of native plant and animal species. What is exciting about FPL's
solar sites is that they are being designed to do more than just
generate clean energy – they are incorporating elements in their
designs that could benefit wildlife for generations," said
Julie Wraithmell, executive director
of Audubon Florida.
Advanced Battery Storage Systems
FPL and other NextEra
Energy companies are actively researching and testing
battery-storage technologies to study a variety of potential
benefits ranging from grid stabilization to improved solar
integration. Currently, NextEra Energy companies operate a total of
approximately 140 megawatts of batteries with more than 150
megawatt-hours of storage capacity.
Earlier this year, FPL announced the first-of-its-kind
large-scale application of "DC-coupled" batteries in the country –
a 4-megawatt/16-megawatt-hour storage system located at the FPL
Citrus Solar Energy Center in DeSoto
County – along with the nation's largest solar-plus storage
system – a 10-megawatt/40-megawatt-hour battery-storage project
located at the FPL Babcock Ranch Solar Energy Center in
Charlotte County.
More information about solar in Florida and FPL's solar
investments
Florida has abundant agriculture land and ranks
ninth in the nation for solar resource – the strength of the sun's
rays – making it a great place for universal scale solar; and
currently, the Sunshine State ranks eighth overall in the country
for total installed solar capacity, jumping five other states in
the past year alone.
FPL has been studying and operating solar technology in
Florida for more than three
decades. In 1984, FPL commissioned its first universal scale solar
installation, a 10-kilowatt photovoltaic facility in Miami that helped the company's employees gain
experience with the then-emerging technology. Over the years, FPL
has continued to test and operate a wide variety of solar
technologies In 2009, FPL built what was then the largest solar PV
facility in America and in 2016, FPL became the first company to
build solar cost effectively in Florida, leveraging its purchasing power and
sites with key advantages to complete three 74.5-megawatt solar
power plants projected to produce net savings for FPL
customers.
FPL is the largest generator of solar energy in Florida and among the largest in the nation
with 14 major solar power plants and more than 200 universal solar
installations, totaling more than 935 megawatts of solar generation
in operation, including:
- FPL Babcock Ranch Solar Energy Center, Charlotte County
- FPL Barefoot Bay Solar Energy Center, Brevard County
- FPL Blue Cypress Solar Energy Center, Indian River County
- FPL Citrus Solar Energy Center, DeSoto County
- FPL Coral Farms Solar Energy Center, Putnam County
- FPL DeSoto Next Generation Solar Energy Center, DeSoto County
- FPL Loggerhead Solar Energy Center, St. Lucie County
- FPL Hammock Solar Energy Center, Hendry County
- FPL Horizon Solar Energy Center, Alachua and Putnam counties
- FPL Indian River Solar Energy Center, Indian River County
- FPL Manatee Solar Energy Center, Manatee County
- FPL Martin Next Generation Clean Energy Center (hybrid
solar/natural gas), Martin
County
- FPL Wildflower Solar Energy Center, Desoto County
- FPL Space Coast Next Generation Solar Energy Center,
Brevard County
- FPL Solar Circuit at Daytona International Speedway,
Volusia County
- Solar research installation at Florida
International University, Miami-Dade County
- Numerous FPL SolarNow arrays in local communities
For more information, visit www.FPL.com/solar.
Florida Power & Light
Company
Florida Power &
Light Company is the third-largest electric utility in the United States, serving nearly 5 million
customer accounts or an estimated 10 million+ people across nearly
half of the state of Florida. FPL's typical 1,000-kWh residential
customer bill is approximately 30 percent lower than the latest
national average and among the lowest in the U.S. FPL's service
reliability is better than 99.98 percent, and its highly
fuel-efficient power plant fleet is one of the cleanest among all
utilities nationwide. The company was recognized in 2017 as one of
the most trusted U.S. electric utilities by Market Strategies
International for the fourth consecutive year. A leading Florida
employer with approximately 8,700 employees, FPL is a subsidiary of
Juno Beach, Florida-based NextEra
Energy, Inc. (NYSE: NEE), a clean energy company widely recognized
for its efforts in sustainability, ethics and diversity, and has
been ranked No. 1 in the electric and gas utilities industry in
Fortune's 2018 list of "World's Most Admired Companies." NextEra
Energy is also the parent company of NextEra Energy Resources, LLC,
which, together with its affiliated entities, is the world's
largest generator of renewable energy from the wind and sun. For
more information about NextEra Energy companies, visit these
websites: www.NextEraEnergy.com, www.FPL.com,
www.NextEraEnergyResources.com.
Cautionary Statements and Risk Factors That
May Affect Future Results
This news release contains "forward-looking statements" within
the meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements are not
statements of historical facts, but instead represent the current
expectations of NextEra Energy, Inc. (NextEra Energy) and
Florida Power & Light Company
(FPL) regarding future operating results and other future events,
many of which, by their nature, are inherently uncertain and
outside of NextEra Energy's and FPL's control. Forward-looking
statements in this news release include, among others, statements
concerning adjusted earnings per share expectations and future
operating performance. In some cases, you can identify the
forward-looking statements by words or phrases such as "will," "may
result," "expect," "anticipate," "believe," "intend," "plan,"
"seek," "potential," "projection," "forecast," "predict," "goals,"
"target," "outlook," "should," "would" or similar words or
expressions. You should not place undue reliance on these
forward-looking statements, which are not a guarantee of future
performance. The future results of NextEra Energy and FPL and their
business and financial condition are subject to risks and
uncertainties that could cause their actual results to differ
materially from those expressed or implied in the forward-looking
statements, or may require them to limit or eliminate certain
operations. These risks and uncertainties include, but are not
limited to, the following: effects of extensive regulation of
NextEra Energy's and FPL's business operations; inability of
NextEra Energy and FPL to recover in a timely manner any
significant amount of costs, a return on certain assets or a
reasonable return on invested capital through base rates, cost
recovery clauses, other regulatory mechanisms or otherwise; impact
of political, regulatory and economic factors on regulatory
decisions important to NextEra Energy and FPL; disallowance of cost
recovery by FPL based on a finding of imprudent use of derivative
instruments; effect of any reductions or modifications to, or
elimination of, governmental incentives or policies that support
utility scale renewable energy projects of NextEra Energy
Resources, LLC and its affiliated entities (NextEra Energy
Resources) or the imposition of additional tax laws, policies or
assessments on renewable energy; impact of new or revised laws,
regulations, interpretations or other regulatory initiatives on
NextEra Energy and FPL; capital expenditures, increased operating
costs and various liabilities attributable to environmental laws,
regulations and other standards applicable to NextEra Energy and
FPL; effects on NextEra Energy and FPL of federal or state laws or
regulations mandating new or additional limits on the production of
greenhouse gas emissions; exposure of NextEra Energy and FPL to
significant and increasing compliance costs and substantial
monetary penalties and other sanctions as a result of extensive
federal regulation of their operations and businesses; effect on
NextEra Energy and FPL of changes in tax laws, guidance or policies
as well as in judgments and estimates used to determine tax-related
asset and liability amounts; impact on NextEra Energy and FPL of
adverse results of litigation; effect on NextEra Energy and FPL of
failure to proceed with projects under development or inability to
complete the construction of (or capital improvements to) electric
generation, transmission and distribution facilities, gas
infrastructure facilities or other facilities on schedule or within
budget; impact on development and operating activities of NextEra
Energy and FPL resulting from risks related to project siting,
financing, construction, permitting, governmental approvals and the
negotiation of project development agreements; risks involved in
the operation and maintenance of electric generation, transmission
and distribution facilities, gas infrastructure facilities and
other facilities; effect on NextEra Energy and FPL of a lack of
growth or slower growth in the number of customers or in customer
usage; impact on NextEra Energy and FPL of severe weather and other
weather conditions; threats of terrorism and catastrophic events
that could result from terrorism, cyber attacks or other attempts
to disrupt NextEra Energy's and FPL's business or the businesses of
third parties; inability to obtain adequate insurance coverage for
protection of NextEra Energy and FPL against significant losses and
risk that insurance coverage does not provide protection against
all significant losses; a prolonged period of low gas and oil
prices could impact NextEra Energy Resources' gas infrastructure
business and cause NextEra Energy Resources to delay or cancel
certain gas infrastructure projects and for certain existing
projects to be impaired; risk to NextEra Energy Resources of
increased operating costs resulting from unfavorable supply costs
necessary to provide NextEra Energy Resources' full energy and
capacity requirement services; inability or failure by NextEra
Energy Resources to manage properly or hedge effectively the
commodity risk within its portfolio; effect of reductions in the
liquidity of energy markets on NextEra Energy's ability to manage
operational risks; effectiveness of NextEra Energy's and FPL's risk
management tools associated with their hedging and trading
procedures to protect against significant losses, including the
effect of unforeseen price variances from historical behavior;
impact of unavailability or disruption of power transmission or
commodity transportation facilities on sale and delivery of power
or natural gas by FPL and NextEra Energy Resources; exposure of
NextEra Energy and FPL to credit and performance risk from
customers, hedging counterparties and vendors; failure of NextEra
Energy or FPL counterparties to perform under derivative contracts
or of requirement for NextEra Energy or FPL to post margin cash
collateral under derivative contracts; failure or breach of NextEra
Energy's or FPL's information technology systems; risks to NextEra
Energy and FPL's retail businesses from compromise of sensitive
customer data; losses from volatility in the market values of
derivative instruments and limited liquidity in OTC markets; impact
of negative publicity; inability of NextEra Energy and FPL to
maintain, negotiate or renegotiate acceptable franchise agreements
with municipalities and counties in Florida; occurrence of work strikes or
stoppages and increasing personnel costs; NextEra Energy's ability
to successfully identify, complete and integrate acquisitions,
including the effect of increased competition for acquisitions;
environmental, health and financial risks associated with NextEra
Energy Resources' and FPL's ownership and operation of nuclear
generation facilities; liability of NextEra Energy and FPL for
significant retrospective assessments and/or retrospective
insurance premiums in the event of an incident at certain nuclear
generation facilities; increased operating and capital expenditures
and/or result in reduced revenues at nuclear generation facilities
of NextEra Energy or FPL resulting from orders or new regulations
of the Nuclear Regulatory Commission; inability to operate any of
NextEra Energy Resources' or FPL's owned nuclear generation units
through the end of their respective operating licenses; effect of
disruptions, uncertainty or volatility in the credit and capital
markets on NextEra Energy's and FPL's ability to fund their
liquidity and capital needs and meet their growth objectives;
inability of NextEra Energy, FPL and NextEra Energy Capital
Holdings, Inc. to maintain their current credit ratings; impairment
of NextEra Energy's and FPL's liquidity from inability of credit
providers to fund their credit commitments or to maintain their
current credit ratings; poor market performance and other economic
factors that could affect NextEra Energy's defined benefit pension
plan's funded status; poor market performance and other risks to
the asset values of NextEra Energy's and FPL's nuclear
decommissioning funds; changes in market value and other risks to
certain of NextEra Energy's investments; effect of inability of
NextEra Energy subsidiaries to pay upstream dividends or repay
funds to NextEra Energy or of NextEra Energy's performance under
guarantees of subsidiary obligations on NextEra Energy's ability to
meet its financial obligations and to pay dividends on its common
stock; the fact that the amount and timing of dividends payable on
NextEra Energy's common stock, as well as the dividend policy
approved by NextEra Energy's board of directors from time to time,
and changes to that policy, are within the sole discretion of
NextEra Energy's board of directors and, if declared and paid,
dividends may be in amounts that are less than might be expected by
shareholders; NEP's inability to access sources of capital on
commercially reasonable terms could have an effect on its ability
to consummate future acquisitions and on the value of NextEra
Energy's limited partner interest in NextEra Energy Operating
Partners, LP; and effects of disruptions, uncertainty or volatility
in the credit and capital markets on the market price of NextEra
Energy's common stock. NextEra Energy and FPL discuss these and
other risks and uncertainties in their annual report on Form 10-K
for the year ended December 31, 2017
and other SEC filings, and this news release should be read in
conjunction with such SEC filings made through the date of this
news release. The forward-looking statements made in this news
release are made only as of the date of this news release and
NextEra Energy and FPL undertake no obligation to update any
forward-looking statements.
View original content with
multimedia:http://www.prnewswire.com/news-releases/construction-begins-on-fpls-four-newest-solar-power-plants-300689419.html
SOURCE Florida Power & Light
Company