BIGGEST U.S. WIND BUILDER BOOMING
NextEra Fourth-Quarter Profit More Than Doubles on Wind Power Output
Benjamin Haas, January 27, 2012 (Bloomberg News)
"NextEra Energy Inc. (NEE), the largest generator of wind and solar power in North America, said fourth- quarter profit more than doubled as its wind turbines produced more electricity.
"Net income rose to $667 million, or $1.59 a share, from $263 million, or 63 cents, a year earlier…Excluding gains from contracts used to lock in commodity prices, per-share profit was 2 cents more than the average of 14 analysts’ estimates..."
"Sales rose 13 percent to $3.86 billion. Profit more than quadrupled at its wind and solar unit, rising to $402 million from $73 million, the company said. NextEra’s wind farms generated 580,000 more megawatt-hours in the quarter from the same period a year earlier…The company plans to spend as much as $2.3 billion this year and $1.5 billion in 2013 and 2014 on solar development…
"NextEra plans to finish building all its existing wind projects by the end of 2012, before a federal tax credit worth 2.2 cents a kilowatt-hour expires…"