NextEra Q3 Profit Lifted By Renewables Growth

Reuters2022-10-28

Oct 28 (Reuters) - Top U.S. renewable energy developer NextEra Energy Inc on Friday posted a jump in third-quarter profit, helped by higher demand for alternative energy.

The scramble for alternative fuels has gained fresh urgency this year as Ukraine war forced up prices of natural gas and crude oil, benefiting companies like NextEra that produce renewable energy from the wind and sun.

NextEra Energy Resources, the company's clean energy business, signed about 2,345 megawatts of new renewables and storage projects in the quarter.

The unit's quarterly adjusted earnings rose to $729 million.

Net income attributable to NextEra for the three months ended Sept. 30 was $1.70 billion, or $0.86 per share, compared with a profit of $447 million, or $0.23 per share, a year earlier.

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