TWO RIVERS, Wis., Jan. 30, 2017 /PRNewswire/ -- WPPI
Energy and NextEra Energy Resources, a subsidiary of NextEra Energy, Inc. (NYSE: NEE), today announced plans to build a
100-megawatt solar energy center – Wisconsin's largest – with a capacity to serve more than
23,000 people with affordable, clean energy.
"This solar energy center adds diversity to WPPI Energy's power supply portfolio in a way that's more cost-effective than
other opportunities currently available to us," said Mike Peters, president and CEO of WPPI
Energy. "In addition, WPPI Energy has achieved significant emissions reductions over the past 10 years, and the clean, renewable
energy generated by this project will help us continue that effort."
WPPI Energy has entered into a 20-year power purchase agreement to buy the electricity from the solar energy center to serve
its 51 member utilities and their customers across Wisconsin, Upper Michigan and Iowa.
"We are pleased to partner with WPPI Energy to bring the largest universal solar energy center to Wisconsin," said Mike O'Sullivan, senior vice president of Development for
NextEra Energy Resources, the world's largest generator of renewable energy from the wind and the sun. "This energy center will
harness the state's own sunshine to create clean, renewable energy, as well as good-paying jobs and increased tax revenue for the
state and local community."
NextEra Energy Resources plans to build and operate the Point Beach Solar Energy Center on land adjacent to its existing Point
Beach Nuclear Plant in Two Rivers. The project will create 150-200 jobs during its construction
period, which typically lasts six to nine months. The Point Beach Solar Energy Center is scheduled to come online in 2021.
NextEra Energy Resources
NextEra Energy Resources, LLC (together with its affiliated entities, "NextEra Energy Resources"), is a clean energy
leader and is one of the largest wholesale generators of electric power in the U.S., with approximately 18,260 megawatts of
generating capacity, which includes megawatts associated with noncontrolling interests related to NextEra Energy Partners, LP
(NYSE: NEP), primarily in 25 states and Canada as of April 2016.
NextEra Energy Resources, together with its affiliated entities, is the world's largest generator of renewable energy from the
wind and sun. The business operates clean, emissions-free nuclear power generation facilities in New
Hampshire, Iowa and Wisconsin as part of the NextEra
Energy nuclear fleet, which is one of the largest in the United States. NextEra Energy
Resources, LLC is a subsidiary of Juno Beach, Fla.-based NextEra Energy, Inc. (NYSE: NEE). For
more information, visit www.NextEraEnergyResources.com.
WPPI Energy
WPPI Energy is a not-for-profit, regional power company serving 51 locally owned electric utilities in Wisconsin, Upper Michigan and Iowa. WPPI Energy strives to deliver
reliable, low-cost wholesale electricity, best-in-class services and effective advocacy for its member utilities and the 200,000+
customers they serve. For more information, visit www.wppienergy.org.
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. (together with its subsidiaries, NextEra Energy) regarding future
operating results and other future events, many of which, by their nature, are inherently uncertain and outside of NextEra
Energy's control. Forward-looking statements in this press release include, among others, statements concerning adjusted
earnings per share expectations and future operating performance, and statements concerning future dividends. 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 NextEra Energy and its business and financial
condition are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or
implied in the forward-looking statements, or may require it 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 business
operations; inability of NextEra Energy 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; disallowance of cost
recovery based on a finding of imprudent use of derivative instruments; effect of any reductions to, or elimination of,
governmental incentives or policies that support utility scale renewable energy projects or the imposition of additional taxes or
assessments on renewable energy; impact of new or revised laws, regulations, interpretations or other regulatory initiatives on
NextEra Energy; effect on NextEra Energy of potential regulatory action to broaden the scope of regulation of over-the-counter
(OTC) financial derivatives and to apply such regulation to NextEra Energy; capital expenditures, increased operating costs and
various liabilities attributable to environmental laws, regulations and other standards applicable to NextEra Energy; effects on
NextEra Energy of federal or state laws or regulations mandating new or additional limits on the production of greenhouse gas
emissions; exposure of NextEra Energy to significant and increasing compliance costs and substantial monetary penalties and other
sanctions as a result of extensive federal regulation of its operations; effect on NextEra Energy of changes in tax laws and in
judgments and estimates used to determine tax-related asset and liability amounts; impact on NextEra Energy of adverse results of
litigation; effect on NextEra Energy 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
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 of a lack of growth or
slower growth in the number of customers or in customer usage; impact on NextEra Energy 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 business or the businesses of third parties; inability to obtain adequate insurance coverage for
protection of NextEra Energy 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's gas infrastructure business and
cause NextEra Energy to delay or cancel certain gas infrastructure projects and for certain existing projects to be impaired;
risk of increased operating costs resulting from unfavorable supply costs necessary to provide full energy and capacity
requirement services; inability or failure to manage properly or hedge effectively the commodity risk within its portfolio;
potential volatility of NextEra Energy's results of operations caused by sales of power on the spot market or on a short-term
contractual basis; effect of reductions in the liquidity of energy markets on NextEra Energy's ability to manage operational
risks; effectiveness of NextEra Energy's risk management tools associated with its 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; exposure
of NextEra Energy to credit and performance risk from customers, hedging counterparties and vendors; failure of counterparties to
perform under derivative contracts or of requirement for NextEra Energy to post margin cash collateral under derivative
contracts; failure or breach of NextEra Energy's information technology systems; risks to NextEra Energy'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 to maintain, negotiate or renegotiate acceptable franchise
agreements; increasing costs of health care plans; lack of a qualified workforce or the loss or retirement of key employees;
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; NextEra Energy Partners,
LP's (NEP's) acquisitions may not be completed and, even if completed, NextEra Energy may not realize the anticipated benefits of
any acquisitions; environmental, health and financial risks associated with ownership and operation of nuclear generation
facilities; liability of NextEra Energy 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 at nuclear generation
facilities resulting from orders or new regulations of the Nuclear Regulatory Commission; inability to operate any owned nuclear
generation units through the end of their respective operating licenses; liability for increased nuclear licensing or compliance
costs resulting from hazards, and increased public attention to hazards, posed to owned nuclear generation facilities; risks
associated with outages of owned nuclear units; effect of disruptions, uncertainty or volatility in the credit and capital
markets on NextEra Energy's ability to fund its liquidity and capital needs and meet its growth objectives; inability to maintain
current credit ratings; impairment of 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 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 discusses these and other risks and uncertainties in its annual
report on Form 10-K for the year ended December 31, 2015 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 undertakes no
obligation to update any forward-looking statements.
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SOURCE NextEra Energy Resources