NextEra Power and NextEra Power Companions schedule investor convention name and webcast to debate partnership’s outlook; additionally plan to satisfy with buyers
JUNO BEACH, Fla., Might 8, 2023 /PRNewswire/ — The senior administration group of NextEra Power, Inc. (NYSE: NEE) and NextEra Power Companions, LP (NYSE: NEP) right this moment introduced that they are going to conduct an investor convention name and webcast right this moment, Monday, Might 8, 2023, at 2 p.m. ET to debate the partnership’s outlook. They plan to debate, amongst different issues, NextEra Power Companions’ financing plans, enterprise plans and long-term distribution per unit progress charge expectations and NextEra Power’s long-term monetary expectations.
Starting at 2 p.m. right this moment, the listen-only webcast will likely be accessible for buyers and different events by visiting www.NextEraEnergy.com/buyers or www.NextEraEnergyPartners.com. The presentation supplies could also be downloaded at www.NextEraEnergy.com/buyers or www.NextEraEnergyPartners.com, starting at 7 a.m. ET right this moment. For these unable to take heed to the dwell webcast, a replay will likely be accessible for 90 days by accessing the hyperlinks listed above.
As well as, members of the senior administration group of NextEra Power and NextEra Power Companions plan to satisfy with buyers all through Might. Traders and different events can entry a replica of the presentation supplies at www.NextEraEnergy.com/buyers or www.NextEraEnergyPartners.com.
NextEra Power, Inc.
NextEra Power, Inc. (NYSE: NEE) is a number one clear power firm headquartered in Juno Seashore, Florida. NextEra Power owns Florida Energy & Mild Firm, which is America’s largest electrical utility that sells extra energy than another utility, offering clear, reasonably priced, dependable electrical energy to roughly 5.8 million buyer accounts, or greater than 12 million folks throughout Florida. NextEra Power additionally owns a aggressive clear power enterprise, NextEra Power Assets, LLC, which, along with its affiliated entities, is the world’s largest generator of renewable power from the wind and solar and a world chief in battery storage. By means of its subsidiaries, NextEra Power generates clear, emissions-free electrical energy from seven business nuclear energy items in Florida, New Hampshire and Wisconsin. NextEra Power has been acknowledged typically by third events for its efforts in sustainability, company accountability, ethics and compliance, and variety. NextEra Power is ranked No. 1 within the electrical and gasoline utilities trade on Fortune’s 2023 record of “World’s Most Admired Corporations,” acknowledged on Fortune’s 2021 record of firms that “Change the World” and obtained the S&P International Platts 2020 Power Transition Award for management in environmental, social and governance. For extra details about NextEra Power firms, go to these web sites: www.NextEraEnergy.com, www.FPL.com, www.NextEraEnergyResources.com.
NextEra Power Companions, LP
NextEra Power Companions, LP (NYSE: NEP) is a growth-oriented restricted partnership fashioned by NextEra Power, Inc. (NYSE: NEE). NextEra Power Companions acquires, manages and owns contracted clear power initiatives with secure, long-term money flows. Headquartered in Juno Seashore, Florida, NextEra Power Companions owns pursuits in geographically numerous wind, photo voltaic and power storage initiatives within the U.S. in addition to pure gasoline infrastructure property in Texas and Pennsylvania. For extra details about NextEra Power Companions, please go to: www.NextEraEnergyPartners.com.
Cautionary Statements and Threat Components That Might Have an effect on Future Outcomes for NextEra Power, Inc.
This information launch incorporates “forward-looking statements” inside the which means of the protected harbor provisions of the Non-public Securities Litigation Reform Act of 1995. Ahead-looking statements are usually not statements of historic information, however as a substitute symbolize the present expectations of NextEra Power, Inc. (NextEra Power) and Florida Energy & Mild Firm (FPL) relating to future working outcomes and different future occasions, lots of which, by their nature, are inherently unsure and outdoors of NextEra Power’s and FPL’s management. Ahead-looking statements on this information launch embody, amongst others, statements regarding adjusted earnings expectations and future working efficiency and statements regarding future dividends and outcomes of acquisitions. In some instances, you possibly can establish the forward-looking statements by phrases or phrases resembling “will,” “might consequence,” “anticipate,” “anticipate,” “consider,” “intend,” “plan,” “search,” “potential,” “projection,” “forecast,” “predict,” “targets,” “goal,” “outlook,” “ought to,” “would” or related phrases or expressions. You shouldn’t place undue reliance on these forward-looking statements, which aren’t a assure of future efficiency. The longer term outcomes of NextEra Power and FPL and their enterprise and monetary situation are topic to dangers and uncertainties that might trigger their precise outcomes to vary materially from these expressed or implied within the forward-looking statements, or might require them to restrict or remove sure operations. These dangers and uncertainties embody, however are usually not restricted to, these mentioned on this information launch and the next: results of intensive regulation of NextEra Power’s and FPL’s enterprise operations; lack of ability of NextEra Power and FPL to get well in a well timed method any vital quantity of prices, a return on sure property or an inexpensive return on invested capital by way of base charges, value restoration clauses, different regulatory mechanisms or in any other case; affect of political, regulatory, operational and financial elements on regulatory selections essential to NextEra Power and FPL; disallowance of value restoration by FPL based mostly on a discovering of imprudent use of spinoff devices; impact of any reductions or modifications to, or elimination of, governmental incentives or insurance policies that help utility scale renewable power initiatives of NextEra Power and FPL and its affiliated entities or the imposition of further tax legal guidelines, tariffs, duties, insurance policies or assessments on renewable power or tools essential to generate it or ship it; affect of recent or revised legal guidelines, rules, interpretations or constitutional poll and regulatory initiatives on NextEra Power and FPL; capital expenditures, elevated working prices and numerous liabilities attributable to environmental legal guidelines, rules and different requirements relevant to NextEra Power and FPL; results on NextEra Power and FPL of federal or state legal guidelines or rules mandating new or further limits on the manufacturing of greenhouse gasoline emissions; publicity of NextEra Power and FPL to vital and growing compliance prices and substantial financial penalties and different sanctions on account of intensive federal regulation of their operations and companies; impact on NextEra Power and FPL of modifications in tax legal guidelines, steerage or insurance policies in addition to in judgments and estimates used to find out tax-related asset and legal responsibility quantities; affect on NextEra Power and FPL of adversarial outcomes of litigation; impacts on NextEra Power or FPL of allegations of violations of regulation; impact on NextEra Power and FPL of failure to proceed with initiatives beneath improvement or lack of ability to finish the development of (or capital enhancements to) electrical era, transmission and distribution services, gasoline infrastructure services or different services on schedule or inside funds; affect on improvement and working actions of NextEra Power and FPL ensuing from dangers associated to mission siting, planning, financing, development, allowing, governmental approvals and the negotiation of mission improvement agreements, in addition to provide chain disruptions; dangers concerned within the operation and upkeep of electrical era, transmission and distribution services, gasoline infrastructure services, retail gasoline distribution system in Florida and different services; impact on NextEra Power and FPL of an absence of progress or slower progress within the variety of clients or in buyer utilization; affect on NextEra Power and FPL of extreme climate and different climate situations; threats of geopolitical elements, terrorism and catastrophic occasions that might consequence from terrorism, cyberattacks or different makes an attempt to disrupt NextEra Power’s and FPL’s enterprise or the companies of third events; lack of ability to acquire enough insurance coverage protection for cover of NextEra Power and FPL in opposition to vital losses and danger that insurance coverage protection doesn’t present safety in opposition to all vital losses; a protracted interval of low gasoline and oil costs may affect NextEra Power Assets, LLC’s (NextEra Power Assets) gasoline infrastructure enterprise and trigger NextEra Power Assets to delay or cancel sure gasoline infrastructure initiatives and will lead to sure initiatives changing into impaired; danger to NextEra Power Assets of elevated working prices ensuing from unfavorable provide prices essential to supply NextEra Power Assets’ full power and capability requirement providers; lack of ability or failure by NextEra Power Assets to handle correctly or hedge successfully the commodity danger inside its portfolio; impact of reductions within the liquidity of power markets on NextEra Power’s potential to handle operational dangers; effectiveness of NextEra Power’s and FPL’s danger administration instruments related to their hedging and buying and selling procedures to guard in opposition to vital losses, together with the impact of unexpected worth variances from historic conduct; affect of unavailability or disruption of energy transmission or commodity transportation services on sale and supply of energy or pure gasoline by NextEra Power, together with FPL; publicity of NextEra Power and FPL to credit score and efficiency danger from clients, hedging counterparties and distributors; failure of NextEra Power or FPL counterparties to carry out beneath spinoff contracts or of requirement for NextEra Power or FPL to submit margin money collateral beneath spinoff contracts; failure or breach of NextEra Power’s or FPL’s data know-how methods; dangers to NextEra Power and FPL’s retail companies from compromise of delicate buyer information; losses from volatility out there values of spinoff devices and restricted liquidity in over-the-counter markets; affect of unfavourable publicity; lack of ability of FPL to take care of, negotiate or renegotiate acceptable franchise agreements with municipalities and counties in Florida; prevalence of labor strikes or stoppages and growing personnel prices; NextEra Power’s potential to efficiently establish, full and combine acquisitions, together with the impact of elevated competitors for acquisitions; environmental, well being and monetary dangers related to NextEra Power Assets’ and FPL’s possession and operation of nuclear era services; legal responsibility of NextEra Power and FPL for vital retrospective assessments and/or retrospective insurance coverage premiums within the occasion of an incident at sure nuclear era services; elevated working and capital expenditures and/or diminished revenues at nuclear era services of NextEra Power or FPL ensuing from orders or new rules of the Nuclear Regulatory Fee; lack of ability to function any of NextEra Power Assets’ or FPL’s owned nuclear era items by way of the top of their respective working licenses; impact of disruptions, uncertainty or volatility within the credit score and capital markets or actions by third events in reference to project-specific or different financing preparations on NextEra Power’s and FPL’s potential to fund their liquidity and capital wants and meet their progress aims; lack of ability of NextEra Power, FPL and NextEra Power Capital Holdings, Inc. to take care of their present credit score rankings; impairment of NextEra Power’s and FPL’s liquidity from lack of ability of credit score suppliers to fund their credit score commitments or to take care of their present credit score rankings; poor market efficiency and different financial elements that might have an effect on NextEra Power’s outlined profit pension plan’s funded standing; poor market efficiency and different dangers to the asset values of NextEra Power’s and FPL’s nuclear decommissioning funds; modifications in market worth and different dangers to sure of NextEra Power’s investments; impact of lack of ability of NextEra Power subsidiaries to pay upstream dividends or repay funds to NextEra Power or of NextEra Power’s efficiency beneath ensures of subsidiary obligations on NextEra Power’s potential to satisfy its monetary obligations and to pay dividends on its widespread inventory; the truth that the quantity and timing of dividends payable on NextEra Power’s widespread inventory, in addition to the dividend coverage authorised by NextEra Power’s board of administrators infrequently, and modifications to that coverage, are inside the sole discretion of NextEra Power’s board of administrators and, if declared and paid, dividends could also be in quantities which can be lower than may be anticipated by shareholders; NextEra Power Companions, LP’s lack of ability to entry sources of capital on commercially cheap phrases may impact its potential to consummate future acquisitions and on the worth of NextEra Power’s restricted accomplice curiosity in NextEra Power Working Companions, LP; results of disruptions, uncertainty or volatility within the credit score and capital markets available on the market worth of NextEra Power’s widespread inventory; and the last word severity and length of public well being crises, epidemics and pandemics, and its results on NextEra Power’s or FPL’s companies. NextEra Power and FPL focus on these and different dangers and uncertainties of their annual report on Kind 10-Okay for the yr ended December 31, 2022 and different Securities and Change Fee (SEC) filings, and this information launch ought to be learn together with such SEC filings. The forward-looking statements made on this information launch are made solely as of the date of this information launch and NextEra Power and FPL undertake no obligation to replace any forward-looking statements.
Cautionary Statements and Threat Components That Might Have an effect on Future Outcomes for NextEra Power Companions, LP
This information launch incorporates “forward-looking statements” inside the which means of the federal securities legal guidelines. Ahead-looking statements are usually not statements of historic information, however as a substitute symbolize the present expectations of NextEra Power Companions, LP (along with its subsidiaries, NEP) relating to future working outcomes and different future occasions, lots of which, by their nature, are inherently unsure and outdoors of NEP’s management. Ahead-looking statements on this information launch embody, amongst others, statements regarding long-term progress, adjusted EBITDA, money accessible for distributions (CAFD) and unit distribution expectations, in addition to statements regarding NEP’s future working efficiency, financing wants and outcomes of acquisitions. In some instances, you possibly can establish the forward-looking statements by phrases or phrases resembling “will,” “might consequence,” “anticipate,” “anticipate,” “consider,” “intend,” “plan,” “search,” “purpose,” “potential,” “projection,” “forecast,” “predict,” “targets,” “goal,” “outlook,” “ought to,” “would” or related phrases or expressions. You shouldn’t place undue reliance on these forward-looking statements, which aren’t a assure of future efficiency. The longer term outcomes of NEP and its enterprise and monetary situation are topic to dangers and uncertainties that might trigger NEP’s precise outcomes to vary materially from these expressed or implied within the forward-looking statements. These dangers and uncertainties may require NEP to restrict or remove sure operations. These dangers and uncertainties embody, however are usually not restricted to, the next: NEP’s potential to make money distributions to its unitholders is affected by the efficiency of its renewable power initiatives which might be impacted by wind and photo voltaic situations and in sure circumstances by market costs; operation and upkeep of renewable power initiatives and pipelines contain vital dangers that might lead to unplanned energy outages, diminished output or capability, private harm or lack of life; NEP’s enterprise, monetary situation, outcomes of operations and prospects may be materially adversely affected by climate situations, together with, however not restricted to, the affect of extreme climate; NEP will depend on sure of the renewable power initiatives and pipelines in its portfolio for a considerable portion of its anticipated money flows; NEP might pursue the repowering of renewable power initiatives or the growth of pure gasoline pipelines that may require up-front capital expenditures and will expose NEP to mission improvement dangers; geopolitical elements, terrorist acts, cyberattacks or different related occasions may affect NEP’s initiatives, pipelines or surrounding areas and adversely have an effect on its enterprise; The flexibility of NEP to acquire insurance coverage and the phrases of any accessible insurance coverage protection might be materially adversely affected by worldwide, nationwide, state or native occasions and company-specific occasions, in addition to the monetary situation of insurers. NEP’s insurance coverage protection doesn’t present safety in opposition to all vital losses; NEP depends on interconnection, transmission and different pipeline services of third events to ship power from its renewable power initiatives and to move pure gasoline to and from its pipelines. If these services develop into unavailable, NEP’s initiatives and pipelines might not have the ability to function or ship power or might develop into partially or absolutely unavailable to move pure gasoline; NEP’s enterprise is topic to liabilities and working restrictions arising from environmental, well being and security legal guidelines and rules, compliance with which can require vital capital expenditures, improve NEP’s value of operations and have an effect on or restrict its enterprise plans; NEP’s renewable power initiatives or pipelines could also be adversely affected by legislative modifications or a failure to adjust to relevant power and pipeline rules; Petroleos Mexicanos (Pemex) might declare sure immunities beneath the International Sovereign Immunities Act and Mexican regulation, and the subsidiaries’ of NEP that instantly personal the pure gasoline pipeline property positioned in Texas potential to sue or get well from Pemex for breach of contract could also be restricted and could also be exacerbated if there’s a deterioration within the financial relationship between the USA of America and Mexico; NEP doesn’t personal the entire land on which the initiatives in its portfolio are positioned and its use and pleasure of the property could also be adversely affected to the extent that there are any lienholders or land rights holders which have rights which can be superior to NEP’s rights or the U.S. Bureau of Land Administration suspends its federal rights-of-way grants; NEP is topic to dangers related to litigation or administrative proceedings that might materially affect its operations, together with, however not restricted to, proceedings associated to initiatives it acquires sooner or later; NEP’s operations require NEP to adjust to anti-corruption legal guidelines and rules of the U.S. authorities and Mexico; NEP is topic to dangers related to its possession pursuits in initiatives which can be beneath development, which may lead to its lack of ability to finish development initiatives on time or in any respect, and make initiatives too costly to finish or trigger the return on an funding to be lower than anticipated; NEP depends on a restricted variety of clients and is uncovered to the chance that they could be unwilling or unable to meet their contractual obligations to NEP or that they in any other case terminate their agreements with NEP; NEP might not have the ability to prolong, renew or exchange expiring or terminated energy buy agreements (PPA), pure gasoline transportation agreements or different buyer contracts at favorable charges or on a long-term foundation; If the power manufacturing by or availability of NEP’s renewable power initiatives is lower than anticipated, they could not have the ability to fulfill minimal manufacturing or availability obligations beneath their PPAs; NEP’s progress technique will depend on finding and buying pursuits in further initiatives in line with its enterprise technique at favorable costs; Reductions in demand for pure gasoline in the USA or Mexico and low market costs of pure gasoline may materially adversely have an effect on NEP’s pipeline operations and money flows; authorities legal guidelines, rules and insurance policies offering incentives and subsidies for clear power might be modified, diminished or eradicated at any time and such modifications might negatively affect NEP’s progress technique; NEP’s progress technique will depend on the acquisition of initiatives developed by NextEra Power, Inc. (NEE) and third events, which face dangers associated to mission siting, financing, development, allowing, the atmosphere, governmental approvals and the negotiation of mission improvement agreements; acquisitions of present clear power initiatives contain quite a few dangers; NEP might proceed to accumulate different sources of fresh power and should broaden to incorporate different kinds of property. Any additional acquisition of non-renewable power initiatives might current unexpected challenges and lead to a aggressive drawback relative to NEP’s more-established rivals; NEP faces substantial competitors primarily from regulated utility holding firms, builders, unbiased energy producers, pension funds and personal fairness funds for alternatives in North America; The pure gasoline pipeline trade is extremely aggressive, and elevated aggressive strain may adversely have an effect on NEP’s enterprise; NEP might not have the ability to entry sources of capital on commercially cheap phrases, which might have a fabric adversarial impact on its potential to consummate future acquisitions and pursue different progress alternatives; restrictions in NEP and its subsidiaries’ financing agreements may adversely have an effect on NEP’s enterprise, monetary situation, outcomes of operations and talent to make money distributions to its unitholders; NEP’s money distributions to its unitholders could also be diminished on account of restrictions on NEP’s subsidiaries’ money distributions to NEP beneath the phrases of their indebtedness or different financing agreements; NEP’s subsidiaries’ substantial quantity of indebtedness might adversely have an effect on NEP’s potential to function its enterprise, and its failure to adjust to the phrases of its subsidiaries’ indebtedness may have a fabric adversarial impact on NEP’s monetary situation; NEP is uncovered to dangers inherent in its use of rate of interest swaps; Widespread public well being crises and epidemics or pandemics might have materials adversarial impacts on NEP’s enterprise, monetary situation, liquidity, outcomes of operations and talent to make money distributions to its unitholders; NEE has affect over NEP; Below the money sweep and credit score help settlement, NEP receives credit score help from NEE and its associates. NEP’s subsidiaries might default beneath contracts or develop into topic to money sweeps if credit score help is terminated, if NEE or its associates fail to honor their obligations beneath credit score help preparations, or if NEE or one other credit score help supplier ceases to fulfill creditworthiness necessities, and NEP will likely be required in sure circumstances to reimburse NEE for attracts which can be made on credit score help; NextEra Power Assets, LLC (NEER) and sure of its associates are permitted to borrow funds obtained by NextEra Power Working Companions, LP (NEP OpCo) or its subsidiaries and is obligated to return these funds solely as wanted to cowl mission prices and distributions or as demanded by NEP OpCo. NEP’s monetary situation and talent to make distributions to its unitholders, in addition to its potential to develop distributions sooner or later, is extremely depending on NEER’s efficiency of its obligations to return all or a portion of those funds; NEER’s proper of first refusal might adversely have an effect on NEP’s potential to consummate future gross sales or to acquire favorable sale phrases; NextEra Power Companions GP, Inc. (NEP GP) and its associates might have conflicts of curiosity with NEP and have restricted duties to NEP and its unitholders; NEP GP and its associates and the administrators and officers of NEP are usually not restricted of their potential to compete with NEP, whose enterprise is topic to sure restrictions; NEP might solely terminate the Administration Companies Settlement amongst, NEP, NextEra Power Administration Companions, LP (NEE Administration), NEP OpCo and NextEra Power Working Companions GP, LLC beneath sure restricted circumstances; if the agreements with NEE Administration or NEER are terminated, NEP could also be unable to contract with a substitute service supplier on related phrases; NEP’s preparations with NEE restrict NEE’s potential legal responsibility, and NEP has agreed to indemnify NEE in opposition to claims that it could face in reference to such preparations, which can lead NEE to imagine larger dangers when making selections regarding NEP than it in any other case would if appearing solely for its personal account; NEP’s potential to make distributions to its unitholders will depend on the power of NEP OpCo to make money distributions to its restricted companions; if NEP incurs materials tax liabilities, NEP’s distributions to its unitholders could also be diminished, with none corresponding discount within the quantity of the IDR charge; Holders of NEP’s items could also be topic to voting restrictions; NEP’s partnership settlement replaces the fiduciary duties that NEP GP and NEP’s administrators and officers might need to holders of its widespread items with contractual requirements governing their duties and the NYSE doesn’t require a publicly traded restricted partnership like NEP to adjust to sure of its company governance necessities; NEP’s partnership settlement restricts the cures accessible to holders of NEP’s widespread items for actions taken by NEP’s administrators or NEP GP that may in any other case represent breaches of fiduciary duties; Sure of NEP’s actions require the consent of NEP GP; Holders of NEP’s widespread items at present can’t take away NEP GP with out NEE’s consent and provisions in NEP’s partnership settlement might discourage or delay an acquisition of NEP that NEP unitholders might think about favorable; NEE’s curiosity in NEP GP and the management of NEP GP could also be transferred to a 3rd occasion with out unitholder consent; Reimbursements and costs owed to NEP GP and its associates for providers offered to NEP or on NEP’s behalf will scale back money distributions from NEP OpCo and from NEP to NEP’s unitholders, and there aren’t any limits on the quantity that NEP OpCo could also be required to pay; will increase in rates of interest may adversely affect the value of NEP’s widespread items, NEP’s potential to difficulty fairness or incur debt for acquisitions or different functions and NEP’s potential to make money distributions to its unitholders; the legal responsibility of holders of NEP’s items, which symbolize restricted partnership pursuits in NEP, is probably not restricted if a court docket finds that unitholder motion constitutes management of NEP’s enterprise; unitholders might have legal responsibility to repay distributions that had been wrongfully distributed to them; the issuance of widespread items, or different restricted partnership pursuits, or securities convertible into, or settleable with, widespread items, and any subsequent conversion or settlement, will dilute widespread unitholders’ possession in NEP, might lower the amount of money accessible for distribution for every widespread unit, will affect the relative voting energy of excellent NEP widespread items and issuance of such securities, or the potential for issuance of such securities, in addition to the resale, or potential resale following conversion or settlement, might lead to a decline out there worth for NEP’s widespread items; NEP’s future tax legal responsibility could also be larger than anticipated if NEP doesn’t generate internet working losses (NOLs) adequate to offset taxable earnings or if tax authorities problem sure of NEP’s tax positions; NEP’s potential to make use of NOLs to offset future earnings could also be restricted; NEP is not going to have full management over NEP’s tax selections; and, Distributions to unitholders could also be taxable as dividends. NEP discusses these and different dangers and uncertainties in its annual report on Kind 10-Okay for the yr ended December 31, 2022 and different Securities and Change Fee (SEC) filings, and this information launch ought to be learn together with such SEC filings made by way of the date of this information launch. The forward-looking statements made on this information launch are made solely as of the date of this information launch and NEP undertakes no obligation to replace any forward-looking statements.
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SOURCE NextEra Power Assets, LLC; NextEra Power Companions, LP