Saturday, July 13, 2024

Entergy and NextEra Energy Resources Announce Major Renewable Energy Development Agreement

by BIZ Magazine

NEW ORLEANS and JUNO BEACH, Fla., – Entergy Corporation (NYSE: ETR) and NextEra Energy Resources LLC, a subsidiary of NextEra Energy Inc. (NYSE: NEE), have announced a joint development agreement aimed at significantly expanding renewable energy infrastructure. This partnership is set to develop up to 4.5 gigawatts (GW) of new solar generation and energy storage projects, marking a substantial step forward in Entergy’s renewable energy portfolio.

Accelerating Renewable Energy Growth

The agreement underscores a shared commitment to meet the growing demand for clean energy across Entergy’s service areas, which include Arkansas, Louisiana, Mississippi, and Texas. Rod West, Group President of Utility Operations for Entergy, emphasized the importance of this collaboration in providing affordable renewable energy to customers.

“We’re excited about this joint development agreement, which will enable Entergy to provide our customers with low-cost, renewable energy as demand grows across Arkansas, Louisiana, Mississippi, and Texas,” said West.

Rebecca Kujawa, President and Chief Executive Officer of NextEra Energy Resources, highlighted the transformative potential of the agreement. “We believe the power sector is at an inflection point, and growing electricity demand will be met by low-cost, renewable generation and storage. We’re pleased to reach this agreement because it further strengthens our long-standing collaboration and adds up to 4.5 GW on top of the more than 1.7 GW of renewable energy projects already underway with Entergy.”

Five-Year Development Plan

The five-year joint development agreement aims to facilitate the development and construction of new solar generation and energy storage projects. This partnership is poised to enhance the reliability and sustainability of the energy supply in the regions served by Entergy, aligning with broader goals of reducing emissions and promoting clean energy.

About Entergy

Entergy is a Fortune 500 company dedicated to powering the lives of 3 million customers in Arkansas, Louisiana, Mississippi, and Texas. The company is recognized for its commitment to sustainability and corporate citizenship, with significant investments in the reliability and resilience of the energy system. Entergy has delivered over $100 million in economic benefits annually to local communities through various initiatives since 2018. Headquartered in New Orleans, Louisiana, Entergy employs approximately 12,000 people.

About NextEra Energy Resources

NextEra Energy Resources LLC is a leading clean energy provider and one of the largest wholesale generators of electric power in the U.S. The company boasts approximately 30,600 megawatts of total net generating capacity, primarily across 41 states and Canada. Known for its leadership in renewable energy from wind and solar, and a pioneer in battery storage, NextEra Energy Resources is also a key player in clean, emissions-free nuclear power generation.

Looking Ahead

This significant joint development agreement between Entergy and NextEra Energy Resources is set to propel the growth of renewable energy infrastructure, providing a cleaner, more sustainable energy future for millions of Americans. For more information, visit Entergy at entergy.com and NextEra Energy Resources at NextEraEnergyResources.com.

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