JUNO
BEACH, Fla., Sept. 6,
2022 /PRNewswire/ -- NextEra Energy, Inc. (NYSE: NEE)
and NextEra Energy Partners, LP (NYSE: NEP) today announced that
Kirk Crews, executive vice
president, finance and chief financial officer of NextEra Energy,
and chief financial officer of NextEra Energy Partners, is
scheduled to present on Sept. 7,
2022, at the 2022 Barclays CEO Energy-Power Conference
in New York City, New York. The presentation is scheduled
to begin at 9:10 a.m. ET. A live
audio webcast will be available at www.NextEraEnergy.com/investors
or www.NextEraEnergyPartners.com. For those unable to listen to the
live webcast, a replay will be available for 90 days by accessing
the links listed above.
NextEra Energy,
Inc.
NextEra Energy, Inc. (NYSE: NEE) is a leading clean energy
company headquartered in Juno Beach, Florida. NextEra Energy owns Florida
Power & Light Company, which is America's largest electric
utility that sells more power than any other utility, providing
clean, affordable, reliable electricity to approximately 5.8
million customer accounts, or more than 12 million people across
Florida. NextEra Energy also owns
a competitive clean energy business, NextEra Energy Resources, LLC,
which, together with its affiliated entities, is the world's
largest generator of renewable energy from the wind and sun and a
world leader in battery storage. Through its subsidiaries, NextEra
Energy generates clean, emissions-free electricity from seven
commercial nuclear power units in Florida, New
Hampshire and Wisconsin. NextEra Energy has been
recognized often by third parties for its efforts in
sustainability, corporate responsibility, ethics and compliance,
and diversity. NextEra Energy is ranked No. 1 in the electric and
gas utilities industry on Fortune's 2022 list of "World's Most
Admired Companies," recognized on Fortune's 2021 list of companies
that "Change the World" and received the S&P Global Platts 2020
Energy Transition Award for leadership in environmental, social and
governance. For more information about NextEra Energy companies,
visit these websites: www.NextEraEnergy.com, www.FPL.com,
www.NextEraEnergyResources.com.
NextEra Energy Partners,
LP
NextEra Energy Partners, LP (NYSE: NEP) is a growth-oriented
limited partnership formed by NextEra Energy, Inc. (NYSE: NEE).
NextEra Energy Partners acquires, manages and owns contracted clean
energy projects with stable, long-term cash flows. Headquartered in
Juno Beach, Florida, NextEra
Energy Partners owns interests in geographically diverse wind,
solar and energy storage projects in the U.S. as well as natural
gas infrastructure assets in Texas
and Pennsylvania. For more
information about NextEra Energy Partners, please visit:
www.NextEraEnergyPartners.com.
Cautionary Statements and Risk
Factors That May Affect Future Results for NextEra Energy,
Inc.
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 news release
include, among others, statements concerning long-term growth rate
expectations. 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,"
"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, those
discussed in this news release and 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, operational 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 or modifications to, or
elimination of, governmental incentives or policies that support
utility scale renewable energy projects or the imposition of
additional tax laws, tariffs, duties, policies or assessments on
renewable energy or equipment necessary to generate it or deliver
it; impact of new or revised laws, regulations, interpretations or
constitutional ballot and regulatory initiatives on 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 and
businesses; effect on NextEra Energy of changes in tax laws,
guidance or policies as well as 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,
planning, financing, construction, permitting, governmental
approvals and the negotiation of project development agreements, as
well as supply chain disruptions; risks involved in the operation
and maintenance of electric generation, transmission and
distribution facilities, gas infrastructure facilities, retail gas
distribution system in Florida 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,
cyberattacks 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 could result in certain
projects becoming 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; 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 over-the-counter markets; impact of negative publicity;
inability to maintain, negotiate or renegotiate acceptable
franchise agreements; 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;
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 and/or reduced revenues at nuclear generation
facilities resulting from orders or new regulations of the Nuclear
Regulatory Commission; inability to operate any of NextEra Energy's
owned nuclear generation units through the end of their respective
operating licenses; effect of disruptions, uncertainty or
volatility in the credit and capital markets or actions by third
parties in connection with project-specific or other financing
arrangements 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; NextEra
Energy Partners, LP'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; effects of disruptions, uncertainty or volatility in
the credit and capital markets on the market price of NextEra
Energy's common stock; and the ultimate severity and duration of
public health crises, epidemics and pandemics, and its effects on
NextEra Energy's business. NextEra Energy discusses these and other
risks and uncertainties in its annual report on Form 10-K for the
year ended December 31, 2021 and other Securities and
Exchange Commission (SEC) filings, and this news release should be
read in conjunction with such SEC filings. 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.
Cautionary Statements and Risk
Factors That May Affect Future Results for NextEra Energy Partners,
LP
This news release contains "forward-looking statements" within
the meaning of the federal securities laws. Forward-looking
statements are not statements of historical facts, but instead
represent the current expectations of NextEra Energy Partners, LP
(together with its subsidiaries, NEP) regarding future operating
results and other future events, many of which, by their nature,
are inherently uncertain and outside of NEP's control.
Forward-looking statements in this news release include, among
others, statements concerning long-term growth rate expectations.
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 NEP and its business and
financial condition are subject to risks and uncertainties that
could cause NEP's actual results to differ materially from those
expressed or implied in the forward-looking statements. These risks
and uncertainties could require NEP to limit or eliminate certain
operations. These risks and uncertainties include, but are not
limited to, the following: NEP's ability to make cash distributions
to its unitholders is affected by wind and solar conditions at its
renewable energy projects; Operation and maintenance of renewable
energy projects and pipelines involve significant risks that could
result in unplanned power outages, reduced output or capacity,
personal injury or loss of life; NEP's business, financial
condition, results of operations and prospects can be materially
adversely affected by weather conditions, including, but not
limited to, the impact of severe weather; NEP depends on certain of
the renewable energy projects and pipelines in its portfolio for a
substantial portion of its anticipated cash flows; NEP may pursue
the repowering of wind projects or the expansion of natural gas
pipelines that would require up-front capital expenditures and
could expose NEP to project development risks; Terrorist acts,
cyberattacks or other similar events could impact NEP's projects,
pipelines or surrounding areas and adversely affect its business;
The ability of NEP to obtain insurance and the terms of any
available insurance coverage could be materially adversely affected
by international, national, state or local events and
company-specific events, as well as the financial condition of
insurers. NEP's insurance coverage does not provide protection
against all significant losses; NEP relies on interconnection,
transmission and other pipeline facilities of third parties to
deliver energy from its renewable energy projects and to transport
natural gas to and from its pipelines. If these facilities become
unavailable, NEP's projects and pipelines may not be able to
operate or deliver energy or may become partially or fully
unavailable to transport natural gas; NEP's business is subject to
liabilities and operating restrictions arising from environmental,
health and safety laws and regulations, compliance with which may
require significant capital expenditures, increase NEP's cost of
operations and affect or limit its business plans; NEP's renewable
energy projects or pipelines may be adversely affected by
legislative changes or a failure to comply with applicable energy
and pipeline regulations; Petroleos Mexicanos (Pemex) may claim
certain immunities under the Foreign Sovereign Immunities Act and
Mexican law, and the Texas
pipeline entities' ability to sue or recover from Pemex for breach
of contract may be limited and may be exacerbated if there is a
deterioration in the economic relationship between the U.S. and
Mexico; NEP does not own all of
the land on which the projects in its portfolio are located and its
use and enjoyment of the property may be adversely affected to the
extent that there are any lienholders or land rights holders that
have rights that are superior to NEP's rights or the U.S. Bureau of
Land Management suspends its federal rights-of-way grants; NEP is
subject to risks associated with litigation or administrative
proceedings that could materially impact its operations, including,
but not limited to, proceedings related to projects it acquires in
the future; NEP's operations require NEP to comply with
anti-corruption laws and regulations of the U.S. government and
Mexico; NEP is subject to risks
associated with its ownership interests in projects that are under
construction, which could result in its inability to complete
construction projects on time or at all, and make projects too
expensive to complete or cause the return on an investment to be
less than expected; NEP relies on a limited number of customers and
is exposed to the risk that they may be unwilling or unable to
fulfill their contractual obligations to NEP or that they otherwise
terminate their agreements with NEP; NEP may not be able to extend,
renew or replace expiring or terminated power purchase agreements
(PPA), natural gas transportation agreements or other customer
contracts at favorable rates or on a long-term basis; If the energy
production by or availability of NEP's renewable energy projects is
less than expected, they may not be able to satisfy minimum
production or availability obligations under their PPAs; NEP's
growth strategy depends on locating and acquiring interests in
additional projects consistent with its business strategy at
favorable prices; Reductions in demand for natural gas in
the United States or Mexico and low market prices of natural gas
could materially adversely affect NEP's pipeline operations and
cash flows; Government laws, regulations and policies providing
incentives and subsidies for clean energy could be changed, reduced
or eliminated at any time and such changes may negatively impact
NEP's growth strategy; NEP's growth strategy depends on the
acquisition of projects developed by NextEra Energy, Inc. (NEE) and
third parties, which face risks related to project siting,
financing, construction, permitting, the environment, governmental
approvals and the negotiation of project development agreements;
Acquisitions of existing clean energy projects involve numerous
risks; NEP may continue to acquire other sources of clean energy
and may expand to include other types of assets. Any further
acquisition of non-renewable energy projects may present unforeseen
challenges and result in a competitive disadvantage relative to
NEP's more-established competitors; NEP faces substantial
competition primarily from regulated utilities, developers,
independent power producers, pension funds and private equity funds
for opportunities in North
America; The natural gas pipeline industry is highly
competitive, and increased competitive pressure could adversely
affect NEP's business; NEP may not be able to access sources of
capital on commercially reasonable terms, which would have a
material adverse effect on its ability to consummate future
acquisitions and pursue other growth opportunities; Restrictions in
NEP and its subsidiaries' financing agreements could adversely
affect NEP's business, financial condition, results of operations
and ability to make cash distributions to its unitholders; NEP's
cash distributions to its unitholders may be reduced as a result of
restrictions on NEP's subsidiaries' cash distributions to NEP under
the terms of their indebtedness or other financing agreements;
NEP's subsidiaries' substantial amount of indebtedness may
adversely affect NEP's ability to operate its business, and its
failure to comply with the terms of its subsidiaries' indebtedness
could have a material adverse effect on NEP's financial condition;
NEP is exposed to risks inherent in its use of interest rate swaps;
Widespread public health crises and epidemics or pandemics may have
material adverse impacts on NEP's business, financial condition,
liquidity, results of operations and ability to make cash
distributions to its unitholders; NEE has influence over NEP; Under
the cash sweep and credit support agreement, NEP receives credit
support from NEE and its affiliates. NEP's subsidiaries may default
under contracts or become subject to cash sweeps if credit support
is terminated, if NEE or its affiliates fail to honor their
obligations under credit support arrangements, or if NEE or another
credit support provider ceases to satisfy creditworthiness
requirements, and NEP will be required in certain circumstances to
reimburse NEE for draws that are made on credit support; NextEra
Energy Resources, LLC (NEER) or one of its affiliates is permitted
to borrow funds received by NEP's subsidiaries and is obligated to
return these funds only as needed to cover project costs and
distributions or as demanded by NextEra Energy Operating Partners,
LP (NEP OpCo). NEP's financial condition and ability to make
distributions to its unitholders, as well as its ability to grow
distributions in the future, is highly dependent on NEER's
performance of its obligations to return all or a portion of these
funds; NEER's right of first refusal may adversely affect NEP's
ability to consummate future sales or to obtain favorable sale
terms; NextEra Energy Partners GP, Inc. (NEP GP) and its affiliates
may have conflicts of interest with NEP and have limited duties to
NEP and its unitholders; NEP GP and its affiliates and the
directors and officers of NEP are not restricted in their ability
to compete with NEP, whose business is subject to certain
restrictions; NEP may only terminate the Management Services
Agreement among, NEP, NextEra Energy Management Partners, LP (NEE
Management), NEP OpCo and NextEra Energy Operating Partners GP, LLC
(NEP OpCo GP) under certain limited circumstances; If the
agreements with NEE Management or NEER are terminated, NEP may be
unable to contract with a substitute service provider on similar
terms; NEP's arrangements with NEE limit NEE's potential liability,
and NEP has agreed to indemnify NEE against claims that it may face
in connection with such arrangements, which may lead NEE to assume
greater risks when making decisions relating to NEP than it
otherwise would if acting solely for its own account; NEP's ability
to make distributions to its unitholders depends on the ability of
NEP OpCo to make cash distributions to its limited partners; If NEP
incurs material tax liabilities, NEP's distributions to its
unitholders may be reduced, without any corresponding reduction in
the amount of the IDR fee; Holders of NEP's units may be subject to
voting restrictions; NEP's partnership agreement replaces the
fiduciary duties that NEP GP and NEP's directors and officers might
have to holders of its common units with contractual standards
governing their duties and the NYSE does not require a publicly
traded limited partnership like NEP to comply with certain of its
corporate governance requirements; NEP's partnership agreement
restricts the remedies available to holders of NEP's common units
for actions taken by NEP's directors or NEP GP that might otherwise
constitute breaches of fiduciary duties; Certain of NEP's actions
require the consent of NEP GP; Holders of NEP's common units
currently cannot remove NEP GP without NEE's consent and provisions
in NEP's partnership agreement may discourage or delay an
acquisition of NEP that NEP unitholders may consider favorable;
NEE's interest in NEP GP and the control of NEP GP may be
transferred to a third party without unitholder consent; NEP may
issue additional units without unitholder approval, which would
dilute unitholder interests; Reimbursements and fees owed to NEP GP
and its affiliates for services provided to NEP or on NEP's behalf
will reduce cash distributions from NEP OpCo and from NEP to NEP's
unitholders, and there are no limits on the amount that NEP OpCo
may be required to pay; Increases in interest rates could adversely
impact the price of NEP's common units, NEP's ability to issue
equity or incur debt for acquisitions or other purposes and NEP's
ability to make cash distributions to its unitholders; The
liability of holders of NEP's units, which represent limited
partnership interests in NEP, may not be limited if a court finds
that unitholder action constitutes control of NEP's business;
Unitholders may have liability to repay distributions that were
wrongfully distributed to them; The issuance of securities
convertible into, or settleable with, common units may affect the
market price for NEP's common units, will dilute common
unitholders' ownership in NEP and may decrease the amount of cash
available for distribution for each common unit; NEP's future tax
liability may be greater than expected if NEP does not generate net
operating losses (NOLs) sufficient to offset taxable income or if
tax authorities challenge certain of NEP's tax positions; NEP's
ability to use NOLs to offset future income may be limited; NEP
will not have complete control over NEP's tax decisions; and,
Distributions to unitholders may be taxable as dividends. NEP
discusses these and other risks and uncertainties in its annual
report on Form 10-K for the year ended December 31, 2021 and other Securities and
Exchange Commission (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 NEP
undertakes no obligation to update any forward-looking
statements.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/nextera-energy-and-nextera-energy-partners-to-present-at-the-2022-barclays-ceo-energy-power-conference-301618144.html
SOURCE NextEra Energy, Inc.; NextEra Energy Partners, LP