11 Best Renewable Energy Stocks To Buy Now

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3. NextEra Energy Inc. (NYSE:NEE)

Number of Hedge Fund Investors: 69

NextEra Energy Inc. (NYSE:NEE) is an electric utility company and a global leader in renewable energy, specializing in wind and solar power generation. The company operates through its subsidiaries, including Florida Power & Light and NextEra Energy Resources.

NextEra Energy Inc. (NYSE:NEE) is leveraging its expertise in developing renewable energy projects to collaborate with other utility companies and expand its footprint to meet the growing demand for clean, sustainable power. The company recently collaborated with Salt River Project (SRP), a leading utility in Arizona, to complete the Babbitt Ranch Energy Center, a 161-megawatt (MW) wind project located in Coconino County, Arizona. The clean energy produced by the Babbitt Ranch Energy Center will be fully allocated to Google’s future data center in Mesa, Arizona, supporting the tech giant’s commitment to 24/7 carbon-free energy.

NextEra Energy Inc. (NYSE:NEE) is also actively expanding its renewable energy portfolio through a partnership with Phillips 66 to power its refinery in Rodeo, California, with a new solar facility. This 30.2-megawatt solar plant drives the creation of new renewable assets, scheduled to begin operations in January 2025, and will be constructed on 88 acres of land adjacent to Phillips 66’s renewable fuels facility in the San Francisco Bay Area. Moving forward, NextEra Energy Inc. (NYSE:NEE) has announced incremental framework agreements with two Fortune 50 customers for the development of renewable and storage projects, with a combined capacity of up to 10.5 gigawatts by 2030.

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