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A New Era for Next Era Energy
NextEra is North America’s largest electric utility. It generates 58 GW of power every year and distributes it to 13 million people through its Florida Power & Light (FP&L) company in Florida. At a recent stock price of $54, it has a market capitalization of $110 billion. That puts it squarely in the “boring, mega-cap utility” sector of an investor’s portfolio allocation bucket.
Yet there’s an interesting catalyst that’s powering future growth. NextEra has committed to expanding its renewable presence, aggressively building wind farms, solar plants, and battery storage facilities. In 2021, it…
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