Nextera is now larger than ExxonMobil based on market capitalization. Nextera is a conglomerate that owns FPL for those of you located in Florida.
This comes after earnings reports show that Nextera has been aggressive in its outlook and purchasing of solar/renewable assets across the board. Now Nextera isn’t a renewable only company. They have fossil fuel components and natural gas holdings as well that fuel their wholesale business, however, the innovative use of federal tax credits from investing into solar has made it easier for Nextera to move into the renewable space.
Investors are long on Nextera due to the “faster than competitors” push towards implementing renewables entirely into their portfolio. Investments into battery storage, hydrogen as a replacement for diesel and wind are setting the groundwork for most of their portfolio moving towards green sources of power.
This sets the groundwork for building electrification and microgrids booming in the next decade as it shows that while Nextera may be the leader right now, other oil and gas giants along with utilities continue to push forward a heavy renewable posture.
About The Author
Swarnav has over 10 years of experience in the energy & climate tech space, holds 2 patents and is active in the tech, climate and media industries. He specializes in Product/Product Innovation as well as Go-To-Market and Growth Strategy.
By training he’s a Materials Engineer with a background in research from his time at Georgia Tech and University of Illinois (UIUC).
He founded TouchLight a utility backed energy company focused on developing IP for utilities and startups pushing electrification forward. He also serves as the appointed Chairman for the Town of Yorktown’s Climate Smart Communities Task Force, where he helps with drafting legislation and enabling sustainability efforts within the town.
Concurrently, Swarnav founded The Impact to help investors, emerging founders and driven climate enthusiasts discover and identify new climate-tech startups, technologies and opportunities before they hit the traditional media sources.