About the Company
NextEra Energy is an American holding company engaging in the generation and distribution of electricity. It employs more than 12,0000 employees across America and Canada and operates through its subsidiaries to generate renewable energy from wind and sun. Headquartered in Juno Beach, Florida, United States, it provides wholesale and retail electric services to its customers. Some of the subsidiaries of NextEra Energy, Inc. include Florida Power and Light, Gulf Power Company, Florida City Gas, NextEra Energy Partners, NextEra Energy Resources and NextEra Energy Capital holdings.
NextEra Energy, Inc. shares are traded on the New York Stock Exchange (NYSE) under the ticker symbol “NEE”. The predecessor company of NEE, Florida Power and Light Company was founded in 1925. In 1984, it began making efforts to expand the operations of the business and formed the holding company FPL Group, Inc. In March 2010, it was renamed to NextEra Energy, Inc and its stock ticker symbol changed from FPL to NEE. NEE owns and operates a retail electricity provider that is engaged in providing full energy requirement services and is involved in marketing of power and gas. Its operations are segregated into two divisions: Florida Power & Light Company (FPL) and NEER.
The first segment is primarily responsible for generating, transmitting and distributing electric energy all across Florida. The second division is focused on renewable projects. Moreover, it puts additional emphasis on the development and operation of long-term contracted assets. Since its inception, it has acquired more than 4 companies and mainly targets the energy services requirement and renewable energy sectors.
It made one of the most significant acquisitions in 2012 when it completed the acquisition of Brookfield Renewable Partners for an estimated $760 million. In 2005, Florida Power and Light Company purchased Gexa Energy, a retail electricity provider based in Houston for approximately $80.6 million. In the same year, it acquired Constellation Maryland Group. And as per reports, it was an $11 billion all-stock acquisition. In May 2018, NEE announced that it had an interest in acquiring Gulf Power Company from Southern Company for approximately $6.4 billion. The acquisition led to a significant increase in the number of residential customers in Florida.
In 2020, NEE was ranked 1st on Fortune’s list of “World’s Most Admired Companies” under the electric and gas utilities industry category. In the same year, it was a recipient of the Global Platts Energy Transmission Award. Moreover, it was ranked 172nd on the list of Fortune 500 companies.;
|NextEra Energy Inc
|Juno Beach, FL