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NextEra Energy, Inc. (NEE) is a leading clean energy company based in Juno Beach, Florida, primarily operating through Florida Power & Light Company (FPL) and NextEra Energy Resources, LLC (NEER) . FPL is the largest electric utility in the United States, delivering clean, affordable, and reliable electricity to approximately 5.9 million customer accounts in Florida, serving over 12 million people . NEER is recognized as the world's largest generator of renewable energy from wind and solar sources and is a leader in battery storage . The company focuses on providing clean energy solutions and operates both rate-regulated and competitive energy businesses .
- Florida Power & Light Company (FPL) - Provides clean, affordable, and reliable electricity to millions of customers in Florida, operating as a rate-regulated utility business.
- NextEra Energy Resources, LLC (NEER) - Generates renewable energy from wind and solar sources and leads in battery storage, operating competitive energy and rate-regulated transmission businesses.
- Corporate and Other - Includes various corporate-level activities and other business operations contributing to the overall revenue.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
John W. Ketchum ExecutiveBoard | Chairman, President, and CEO of NEE | Director of NextEra Energy Partners, LP (NEP) | Joined NEE in 2002. Previously served as President and CEO of NextEra Energy Resources. Instrumental in expanding NEE's renewable energy portfolio and leading major capital investment programs. | |
Armando Pimentel, Jr. Executive | President and CEO of Florida Power & Light Co. | Board Member of Ameriprise Financial, Inc. | Rejoined NEE in 2023. Former President and CEO of NextEra Energy Resources. Extensive experience in renewable energy and financial leadership. | |
Brian W. Bolster Executive | EVP, Finance and CFO of NEE | None | Joined NEE in May 2024. Former Partner Managing Director at Goldman Sachs, leading natural resources investment banking. Oversees NEE's financial operations. | |
Charles E. Sieving Executive | EVP, Chief Legal, Environmental, and Federal Regulatory Affairs Officer | None | Joined NEE in 2008. Oversees legal, environmental, and regulatory affairs for NEE and FPL. | |
James M. May Executive | VP, Controller, and Chief Accounting Officer | None | Joined NEE in 2019. Oversees accounting and financial reporting for NEE. | |
Michael H. Dunne Executive | Treasurer of NEE and FPL | None | Joined NEE in 2022. Former Managing Director at Bank of America. Oversees treasury operations for NEE and FPL. | |
Nicole Daggs Executive | EVP, Human Resources and Corporate Services | None | Joined NEE in 2018. Promoted to EVP in January 2024. Oversees HR and corporate services for NEE and FPL. | |
Rebecca J. Kujawa Executive | President and CEO of NextEra Energy Resources | None | Joined NEE in 2007. Former CFO of NEE. Leads the renewable energy subsidiary, focusing on clean energy growth and innovation. | |
Terrell Kirk Crews II Executive | EVP and Chief Risk Officer of NEE | None | Joined NEE in 2016. Former CFO of NEE. Transitioned to Chief Risk Officer in May 2024. Previously worked at Deloitte and the SEC. | |
Amy B. Lane Board | Independent Director | Director at FedEx Corporation and The TJX Companies, Inc. | Independent director since 2015. Former Managing Director at Merrill Lynch, specializing in retail investment banking. | |
David L. Porges Board | Independent Director | None | Independent director since 2020. Former CEO and Chairman of EQT Corporation. Extensive experience in energy and finance. | |
Deborah L. Stahlkopf Board | Independent Director | EVP and Chief Legal Officer at Cisco Systems, Inc. | Independent director since 2023. Extensive legal expertise, including intellectual property, privacy, and cybersecurity. Former senior leader at Microsoft. | |
Geoffrey S. Martha Board | Independent Director | Chairman and CEO of Medtronic plc; Member of Business Roundtable and other organizations | Independent director since 2024. CEO of Medtronic. Expertise in global business, technology, and manufacturing. | |
Kirk S. Hachigian Board | Independent Director | Director at Allegion plc and PACCAR, Inc. | Independent director since 2013. Former CEO and Chairman of global manufacturers. Expertise in operations and strategic planning. | |
Maria G. Henry Board | Independent Director | Director at NIKE, Inc. and General Mills, Inc. | Independent director since 2023. Former CFO of Kimberly-Clark Corporation. Extensive experience in finance and strategy. | |
Naren K. Gursahaney Board | Independent Director | Director at Stericycle, Inc. | Independent director since 2014. Former CEO of ADT Corporation. Extensive experience in operations and strategic planning. |
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Given the challenges you mentioned in addressing the remaining convertible equity portfolio financings due in 2027 and beyond , could you provide more details on the specific alternatives you are evaluating to manage these obligations without impacting NEP's growth trajectory?
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While you've highlighted plans to invest approximately $1.9 billion through 2027 in competitive transmission projects , transmission development often faces regulatory and execution risks; how are you mitigating these risks, and what impact could potential delays or cost overruns have on your expected returns and growth targets?
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Considering the draft hydrogen guidance that requires hourly matching, which increases costs and may limit project feasibility , how confident are you in the viability of your hydrogen initiatives, and what are your contingency plans if the regulatory framework remains unchanged?
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Wind origination has been lower compared to solar and storage, with higher interconnection costs affecting certain projects ; what specific strategies are you implementing to bolster wind additions to meet your 2025 and 2026 targets, and how do you plan to overcome these challenges?
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With plans to repower approximately 985 megawatts of wind projects through 2026 , repowering requires significant capital investment; how do you intend to fund these repowering projects without straining your balance sheet, especially considering the upcoming convertible equity portfolio financings that need to be addressed?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Renewable Energy Projects Portfolio | 2023 | The acquisition, completed on March 21, 2023, involved a cash consideration of approximately $1.1 billion plus an assumption of $34 million in debt, acquiring 31 biogas projects including a renewable natural gas facility and several landfill gas-to-electric facilities, with around $0.3 billion in goodwill reflecting expected synergies and expansion opportunities. |
Recent press releases and 8-K filings for NEE.
- Strong Q1 performance: Reported adjusted EPS up nearly 9% YoY, with GAAP net income of $833M and adjusted earnings of $2.038B .
- FPL segment strength: Achieved a net income of $1.316B, increased regulatory capital by 8.1% YoY, and commissioned 894 MW of new solar capacity .
- Expanding renewable pipeline: Secured about 3.2 GW of renewables and battery storage projects, with NextEra Energy Resources EPS rising nearly 10% to $0.44 .
- Leadership transition: Announced key management changes, including Rebecca Kujawa's retirement and promotions within the financial team .
- Managed tariff exposure: Currently at approximately $150M, with contractual protections in place to reduce risk .
- Leadership Succession: The company announced planned leadership changes effective May 22, 2025, including the retirement of Rebecca Kujawa, President and CEO of NextEra Energy Resources, with Brian W. Bolster being appointed as her successor in that role.
- Executive Appointments and Compensation Adjustments: As part of the succession process, James M. May is resigning and will be replaced by William J. Gough as Vice President, Controller and Chief Accounting Officer, while Michael H. Dunne transitions from Treasurer to Executive Vice President, Finance and Chief Financial Officer, with their compensation packages updated (e.g., $850,000 base salary for Mr. Dunne and $385,000 for Mr. Gough).