JUNO
BEACH, Fla., Feb. 27,
2023 /PRNewswire/ -- NextEra Energy, Inc. (NYSE: NEE)
and NextEra Energy Partners, LP (NYSE: NEP) today announced that
members of the senior management team will participate in various
investor meetings at the end of February and throughout March. They
plan to discuss, among other things, long-term growth rate
expectations for NextEra Energy and NextEra Energy
Partners. Investors and other interested parties can access a copy
of the presentation materials
at www.NextEraEnergy.com/investors or
www.NextEraEnergyPartners.com.
![(PRNewsfoto/NextEra Energy, Inc.) (PRNewsfoto/NextEra Energy, Inc.)](https://mma.prnewswire.com/media/1653740/NextEra_Energy_Logo.jpg)
NextEra Energy, Inc.
NextEra Energy, Inc. (NYSE: NEE)
is a leading clean energy company headquartered in Juno Beach, Florida. NextEra Energy owns
Florida Power & Light Company,
which is America's largest electric utility that sells more power
than any other utility, providing clean, affordable, reliable
electricity to approximately 5.8 million customer accounts, or more
than 12 million people across Florida. NextEra Energy also owns a
competitive clean energy business, NextEra Energy Resources, LLC,
which, together with its affiliated entities, is the world's
largest generator of renewable energy from the wind and sun and a
world leader in battery storage. Through its subsidiaries, NextEra
Energy generates clean, emissions-free electricity from seven
commercial nuclear power units in Florida, New
Hampshire and Wisconsin.
NextEra Energy has been recognized often by third parties for its
efforts in sustainability, corporate responsibility, ethics and
compliance, and diversity. NextEra Energy is ranked No. 1 in the
electric and gas utilities industry on Fortune's 2023 list of
"World's Most Admired Companies," recognized on Fortune's 2021 list
of companies that "Change the World" and received the S&P
Global Platts 2020 Energy Transition Award for leadership in
environmental, social and governance. For more information about
NextEra Energy companies, visit these websites:
www.NextEraEnergy.com, www.FPL.com,
www.NextEraEnergyResources.com.
NextEra Energy Partners, LP
NextEra Energy Partners,
LP (NYSE: NEP) is a growth-oriented limited partnership formed by
NextEra Energy, Inc. (NYSE: NEE). NextEra Energy Partners acquires,
manages and owns contracted clean energy projects with stable,
long-term cash flows. Headquartered in Juno Beach, Florida, NextEra Energy Partners
owns interests in geographically diverse wind, solar and energy
storage projects in the U.S. as well as natural gas infrastructure
assets in Texas and Pennsylvania. For more information about
NextEra Energy Partners, please visit:
www.NextEraEnergyPartners.com.
Cautionary Statements and Risk Factors That May Affect Future
Results for NextEra Energy, Inc.
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 long-term growth rate expectations.
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, those discussed in this news
release and 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, operational 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 and FPL and its affiliated entities or the
imposition of additional tax laws, tariffs, duties, policies or
assessments on renewable energy or equipment necessary to generate
it or deliver it; impact of new or revised laws, regulations,
interpretations or constitutional ballot and 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; impacts
on NextEra Energy or FPL of allegations of violations of law;
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, planning,
financing, construction, permitting, governmental approvals and the
negotiation of project development agreements, as well as supply
chain disruptions; risks involved in the operation and maintenance
of electric generation, transmission and distribution facilities,
gas infrastructure facilities, retail gas distribution system in
Florida 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 geopolitical factors, terrorism and
catastrophic events that could result from terrorism, cyberattacks
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, LLC's (NextEra Energy Resources) gas infrastructure
business and cause NextEra Energy Resources to delay or cancel
certain gas infrastructure projects and could result in certain
projects becoming 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 NextEra Energy, including FPL; 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 over-the-counter
markets; impact of negative publicity; inability of 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 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 or actions by third parties in connection with
project-specific or other financing arrangements 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;
NextEra Energy Partners, LP'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; effects of disruptions, uncertainty or
volatility in the credit and capital markets on the market price of
NextEra Energy's common stock; and the ultimate severity and
duration of public health crises, epidemics and pandemics, and its
effects on NextEra Energy's or FPL's businesses. 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, 2022 and other Securities and
Exchange Commission (SEC) filings, and this news release should be
read in conjunction with such SEC filings. 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.
Cautionary Statements and Risk Factors That May Affect Future
Results for NextEra Energy Partners, LP
This news release contains "forward-looking statements" within
the meaning of the federal securities laws. Forward-looking
statements are not statements of historical facts, but instead
represent the current expectations of NextEra Energy Partners, LP
(together with its subsidiaries, NEP) regarding future operating
results and other future events, many of which, by their nature,
are inherently uncertain and outside of NEP's control.
Forward-looking statements in this news release include, among
others, statements concerning long-term growth rate expectations.
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," "aim,"
"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 NEP and its business and
financial condition are subject to risks and uncertainties that
could cause NEP's actual results to differ materially from those
expressed or implied in the forward-looking statements. These risks
and uncertainties could require NEP to limit or eliminate certain
operations. These risks and uncertainties include, but are not
limited to, the following: NEP's ability to make cash distributions
to its unitholders is affected by the performance of its renewable
energy projects which could be impacted by wind and solar
conditions and in certain circumstances by market prices; Operation
and maintenance of renewable energy projects and pipelines involve
significant risks that could result in unplanned power outages,
reduced output or capacity, personal injury or loss of life; NEP's
business, financial condition, results of operations and prospects
can be materially adversely affected by weather conditions,
including, but not limited to, the impact of severe weather; NEP
depends on certain of the renewable energy projects and pipelines
in its portfolio for a substantial portion of its anticipated cash
flows; NEP may pursue the repowering of renewable energy projects
or the expansion of natural gas pipelines that would require
up-front capital expenditures and could expose NEP to project
development risks; Geopolitical factors, terrorist acts,
cyberattacks or other similar events could impact NEP's projects,
pipelines or surrounding areas and adversely affect its business;
The ability of NEP to obtain insurance and the terms of any
available insurance coverage could be materially adversely affected
by international, national, state or local events and
company-specific events, as well as the financial condition of
insurers. NEP's insurance coverage does not provide protection
against all significant losses; NEP relies on interconnection,
transmission and other pipeline facilities of third parties to
deliver energy from its renewable energy projects and to transport
natural gas to and from its pipelines. If these facilities become
unavailable, NEP's projects and pipelines may not be able to
operate or deliver energy or may become partially or fully
unavailable to transport natural gas; NEP's business is subject to
liabilities and operating restrictions arising from environmental,
health and safety laws and regulations, compliance with which may
require significant capital expenditures, increase NEP's cost of
operations and affect or limit its business plans; NEP's renewable
energy projects or pipelines may be adversely affected by
legislative changes or a failure to comply with applicable energy
and pipeline regulations; Petroleos Mexicanos (Pemex) may claim
certain immunities under the Foreign Sovereign Immunities Act and
Mexican law, and the subsidiaries' of NEP that directly own the
natural gas pipeline assets located in Texas ability to sue or recover from Pemex for
breach of contract may be limited and may be exacerbated if there
is a deterioration in the economic relationship between the U.S.
and Mexico; NEP does not own all
of the land on which the projects in its portfolio are located and
its use and enjoyment of the property may be adversely affected to
the extent that there are any lienholders or land rights holders
that have rights that are superior to NEP's rights or the U.S.
Bureau of Land Management suspends its federal rights-of-way
grants; NEP is subject to risks associated with litigation or
administrative proceedings that could materially impact its
operations, including, but not limited to, proceedings related to
projects it acquires in the future; NEP's operations require NEP to
comply with anti-corruption laws and regulations of the U.S.
government and Mexico; NEP is
subject to risks associated with its ownership interests in
projects that are under construction, which could result in its
inability to complete construction projects on time or at all, and
make projects too expensive to complete or cause the return on an
investment to be less than expected; NEP relies on a limited number
of customers and is exposed to the risk that they may be unwilling
or unable to fulfill their contractual obligations to NEP or that
they otherwise terminate their agreements with NEP; NEP may not be
able to extend, renew or replace expiring or terminated power
purchase agreements (PPA), natural gas transportation agreements or
other customer contracts at favorable rates or on a long-term
basis; If the energy production by or availability of NEP's
renewable energy projects is less than expected, they may not be
able to satisfy minimum production or availability obligations
under their PPAs; NEP's growth strategy depends on locating and
acquiring interests in additional projects consistent with its
business strategy at favorable prices; Reductions in demand for
natural gas in the U.S. or Mexico
and low market prices of natural gas could materially adversely
affect NEP's pipeline operations and cash flows; Government laws,
regulations and policies providing incentives and subsidies for
clean energy could be changed, reduced or eliminated at any time
and such changes may negatively impact NEP's growth strategy; NEP's
growth strategy depends on the acquisition of projects developed by
NextEra Energy, Inc. (NEE) and third parties, which face risks
related to project siting, financing, construction, permitting, the
environment, governmental approvals and the negotiation of project
development agreements; Acquisitions of existing clean energy
projects involve numerous risks; NEP may continue to acquire other
sources of clean energy and may expand to include other types of
assets. Any further acquisition of non-renewable energy projects
may present unforeseen challenges and result in a competitive
disadvantage relative to NEP's more-established competitors; NEP
faces substantial competition primarily from regulated utility
holding companies, developers, independent power producers, pension
funds and private equity funds for opportunities in North America; The natural gas pipeline
industry is highly competitive, and increased competitive pressure
could adversely affect NEP's business; NEP may not be able to
access sources of capital on commercially reasonable terms, which
would have a material adverse effect on its ability to consummate
future acquisitions and pursue other growth opportunities;
Restrictions in NEP and its subsidiaries' financing agreements
could adversely affect NEP's business, financial condition, results
of operations and ability to make cash distributions to its
unitholders; NEP's cash distributions to its unitholders may be
reduced as a result of restrictions on NEP's subsidiaries' cash
distributions to NEP under the terms of their indebtedness or other
financing agreements; NEP's subsidiaries' substantial amount of
indebtedness may adversely affect NEP's ability to operate its
business, and its failure to comply with the terms of its
subsidiaries' indebtedness could have a material adverse effect on
NEP's financial condition; NEP is exposed to risks inherent in its
use of interest rate swaps; Widespread public health crises and
epidemics or pandemics may have material adverse impacts on NEP's
business, financial condition, liquidity, results of operations and
ability to make cash distributions to its unitholders; NEE has
influence over NEP; Under the cash sweep and credit support
agreement, NEP receives credit support from NEE and its affiliates.
NEP's subsidiaries may default under contracts or become subject to
cash sweeps if credit support is terminated, if NEE or its
affiliates fail to honor their obligations under credit support
arrangements, or if NEE or another credit support provider ceases
to satisfy creditworthiness requirements, and NEP will be required
in certain circumstances to reimburse NEE for draws that are made
on credit support; NextEra Energy Resources, LLC (NEER) and certain
of its affiliates are permitted to borrow funds received by
NextEra Energy Operating Partners, LP (NEP OpCo) or its
subsidiaries and is obligated to return these funds only as needed
to cover project costs and distributions or as demanded by NEP
OpCo. NEP's financial condition and ability to make distributions
to its unitholders, as well as its ability to grow distributions in
the future, is highly dependent on NEER's performance of its
obligations to return all or a portion of these funds; NEER's right
of first refusal may adversely affect NEP's ability to consummate
future sales or to obtain favorable sale terms; NextEra Energy
Partners GP, Inc. (NEP GP) and its affiliates may have conflicts of
interest with NEP and have limited duties to NEP and its
unitholders; NEP GP and its affiliates and the directors and
officers of NEP are not restricted in their ability to compete with
NEP, whose business is subject to certain restrictions; NEP may
only terminate the Management Services Agreement among, NEP,
NextEra Energy Management Partners, LP (NEE Management), NEP OpCo
and NextEra Energy Operating Partners GP, LLC under certain
limited circumstances; If the agreements with NEE Management or
NEER are terminated, NEP may be unable to contract with a
substitute service provider on similar terms; NEP's arrangements
with NEE limit NEE's potential liability, and NEP has agreed to
indemnify NEE against claims that it may face in connection with
such arrangements, which may lead NEE to assume greater risks when
making decisions relating to NEP than it otherwise would if acting
solely for its own account; NEP's ability to make distributions to
its unitholders depends on the ability of NEP OpCo to make cash
distributions to its limited partners; If NEP incurs material tax
liabilities, NEP's distributions to its unitholders may be reduced,
without any corresponding reduction in the amount of the IDR fee;
Holders of NEP's units may be subject to voting restrictions; NEP's
partnership agreement replaces the fiduciary duties that NEP GP and
NEP's directors and officers might have to holders of its common
units with contractual standards governing their duties and the
NYSE does not require a publicly traded limited partnership like
NEP to comply with certain of its corporate governance
requirements; NEP's partnership agreement restricts the remedies
available to holders of NEP's common units for actions taken by
NEP's directors or NEP GP that might otherwise constitute breaches
of fiduciary duties; Certain of NEP's actions require the consent
of NEP GP; Holders of NEP's common units currently cannot remove
NEP GP without NEE's consent and provisions in NEP's partnership
agreement may discourage or delay an acquisition of NEP that NEP
unitholders may consider favorable; NEE's interest in NEP GP and
the control of NEP GP may be transferred to a third party without
unitholder consent; Reimbursements and fees owed to NEP GP and its
affiliates for services provided to NEP or on NEP's behalf will
reduce cash distributions from NEP OpCo and from NEP to NEP's
unitholders, and there are no limits on the amount that NEP OpCo
may be required to pay; Increases in interest rates could adversely
impact the price of NEP's common units, NEP's ability to issue
equity or incur debt for acquisitions or other purposes and NEP's
ability to make cash distributions to its unitholders; The
liability of holders of NEP's units, which represent limited
partnership interests in NEP, may not be limited if a court finds
that unitholder action constitutes control of NEP's business;
Unitholders may have liability to repay distributions that were
wrongfully distributed to them; The issuance of common units, or
other limited partnership interests, or securities convertible
into, or settleable with, common units, and any subsequent
conversion or settlement, will dilute common unitholders' ownership
in NEP, may decrease the amount of cash available for distribution
for each common unit, will impact the relative voting strength of
outstanding NEP common units and issuance of such securities, or
the possibility of issuance of such securities, as well as the
resale, or possible resale following conversion or settlement, may
result in a decline in the market price for NEP's common units;
NEP's future tax liability may be greater than expected if NEP does
not generate net operating losses (NOLs) sufficient to offset
taxable income or if tax authorities challenge certain of NEP's tax
positions; NEP's ability to use NOLs to offset future income may be
limited; NEP will not have complete control over NEP's tax
decisions; and, Distributions to unitholders may be taxable as
dividends. NEP discusses these and other risks and uncertainties in
its annual report on Form 10-K for the year ended December 31, 2022 and other Securities and
Exchange Commission (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 NEP
undertakes no obligation to update any forward-looking
statements.
![(PRNewsfoto/NextEra Energy Partners, LP) (PRNewsfoto/NextEra Energy, Inc.) (PRNewsfoto/NextEra Energy Partners, LP) (PRNewsfoto/NextEra Energy, Inc.)](https://mma.prnewswire.com/media/539078/NextEra_Energy_Partners.jpg)
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SOURCE NextEra Energy, Inc.; NextEra Energy Partners, LP