Statement by NextEra Energy Resources President and CEO John Ketchum on Bloom Energy

Rhea-AI Summary

NextEra Energy Resources, LLC's CEO, John Ketchum, clarified the firm's relationship with Bloom Energy after a misstatement during a financial analyst call. Contrary to Bloom's assertion of a 'financing partnership', Ketchum emphasized that their engagement is strictly limited to a recent fuel cell acquisition on Long Island, New York. This arrangement includes operational and technology support for this system only, with no plans for further business with Bloom Energy. NextEra remains a leader in clean energy with a significant generating capacity across the U.S. and Canada.

Positive

• NextEra Energy Resources has a significant net generating capacity of approximately 21,900 megawatts.
• The company is a leader in renewable energy generation from wind and solar.

Negative

• The misrepresentation by Bloom Energy could lead to misunderstandings affecting investor confidence.

JUNO BEACH, Fla., July 29, 2020 /PRNewswire/ -- NextEra Energy Resources, LLC President and CEO John Ketchum issued the following statement regarding recent Bloom Energy disclosures about NextEra Energy Resources.

"Yesterday, during a call with financial analysts, an executive of Bloom Energy incorrectly asserted that NextEra Energy Resources was a 'financing partner' of Bloom Energy. We have no such relationship with Bloom Energy. NextEra Energy Resources' relationship with Bloom Energy is limited to a recently acquired small fuel cell with an existing power purchase agreement on Long Island, New York. The opportunity became available to us on attractive terms. Our contractual arrangement with Bloom Energy is limited to receiving operational and technology support for this one system. We have no plans to engage in further business activities with Bloom Energy." 

NextEra Energy Resources

NextEra Energy Resources, LLC (together with its affiliated entities, "NextEra Energy Resources"), is a clean energy leader and is one of the largest wholesale generators of electric power in the U.S., with approximately 21,900 megawatts of net generating capacity, primarily in 37 states and Canada as of year-end 2019. NextEra Energy Resources, 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. The business operates clean, emissions-free nuclear power generation facilities in New Hampshire, Iowa and Wisconsin as part of the NextEra Energy nuclear fleet, which is one of the largest in the United States. NextEra Energy Resources, LLC is a subsidiary of Juno Beach, Florida-based NextEra Energy, Inc. (NYSE: NEE). For more information, visit www.NextEraEnergyResources.com.

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SOURCE NextEra Energy Resources; NextEra Energy, Inc.

FAQ

What did NextEra Energy Resources clarify about its relationship with Bloom Energy?

NextEra Energy Resources clarified that it has no financing partnership with Bloom Energy and that their relationship is limited to a small fuel cell acquisition.

When did NextEra Energy Resources issue its statement regarding Bloom Energy?

NextEra Energy Resources issued its statement on July 29, 2020.

What is the generating capacity of NextEra Energy Resources?

NextEra Energy Resources has a net generating capacity of approximately 21,900 megawatts.

Where does NextEra Energy Resources operate its clean energy facilities?

NextEra Energy Resources operates in approximately 37 states and Canada.

What is the focus of NextEra Energy Resources in the energy sector?

NextEra Energy Resources focuses on renewable energy generation and battery storage.