NextEra Energy announced plans to raise $1.5 billion through equity unit sales to support new energy and power projects, marking the utility’s second fundraising initiative this year. This move comes in response to growing energy demands, particularly from AI data centers.

The company, which operates the world’s largest renewable energy business, has reported a third-quarter project backlog of 24 gigawatts (GW) in its renewables division. The newly issued equity units, valued at $50 each, provide buyers the option to purchase common stock in three years at a 25% premium over the October 28 closing price. J.P. Morgan, Mizuho, and Goldman Sachs are participating in the sale.

Each unit also includes a 5% interest in NextEra Energy Capital Holdings debt, set to mature in 2029. During the third quarter, NextEra Energy Resources added approximately 3 GW of new renewable and storage projects to its backlog.

Headquartered in Juno Beach, Florida, NextEra is pursuing additional framework agreements with two Fortune 50 companies, aiming for up to 10.5 GW in renewables and storage projects by 2030. Florida Power & Light (FPL), a NextEra subsidiary, reported third-quarter capital expenditures of $2 billion, with annual capital investments projected between $8 and $8.8 billion.

Source: greentechlead.com