NextEra Erects New Solar Plant

Zacks Investment Research
updated | Zacks.com

Energy producer NextEra Energy Inc. (NEE) said its competitive energy subsidiary NextEra Energy Resources LLC has started commissioning work at the Hatch Solar Center, located in Hatch, New Mexico. The facility has a total capacity of 5-megawatts.

NextEra Energy Resources is developing the Hatch Solar Energy Center with the assistance of Amonix Inc., a leader in solar systems design and manufacturing. The plant comprises 84 Amonix 60-kilowatt units.

Installed with Amonix’s innovative concentrated photovoltaic solar power systems, which incorporate dual-axis tracking, the facility is capable of optimizing energy production throughout the day. Moreover, the Hatch Solar Energy Center is located in a prime sunny and dry zone, which perfectly suits the Amonix technology. This allows generating more energy per acre than any other solar technology.

The Hatch facility began operations in June 2011. The plant is among the largest operating concentrated photovoltaic solar power plant in North America. NextEra Energy Resources will own and operate the plant. The plant will sell the power to El Paso Electric Co. (NYSE:EE) under a 25-year power purchase agreement.

A clean energy leader, NextEra Energy Resources LLC, is one of the largest competitive energy suppliers in North America. It is the largest generator in North America of renewable energy from the wind and sun. It operates clean, emissions-free nuclear power generation facilities in New Hampshire, Iowa and Wisconsin as part of NextEra Energy’s nuclear fleet, which is the third largest in the United States.

Based in Juno Beach, Florida, NextEra Energy Inc. generates, transmits, distributes and sells electric energy in Florida. The company competes primarily with the likes of TECO Energy Inc. (NYSE:TE) and Progress Energy Inc. (NYSE:PGN).

NextEra Energy currently has a Zacks #4 Rank (short-term Sell rating). We maintain our long-term Neutral rating on the stock.

 
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