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New Name for FPL Energy Touts its Clean Cred

FPL Group (s FPL) has given its energy generation business a flashy new name, changing it from FPL Energy to NextEra Energy Resources. FPL, based in Juno Beach, Fla. said the new name better reflects the unit, which it said is the largest producer of wind and solar energy in North America.

The business, which also has natural-gas, nuclear and hydro power plants under its belt, operates more than 6.3 gigawatts of wind generation, along with 310 megawatts of solar thermal.

In better economic times, a name change could start the rumor mill going about possible bigger changes in the works, like FPL possibly spinning off its renewable energy arm. But more likely FPL is just putting its clean energy face forward, especially in light of the upcoming administration’s call for more clean technology in the U.S.

“There’s long been speculation of whether or not FPL Energy was going to be spun off,” said Tyler Tringas, a wind analyst at New Energy Finance, but he said that kind of move is unlikely in this current financial climate.

“The market conditions right now are pretty terrible for doing any kind of separate IPOs,” he said. “Also, in general, the valuations that the public markets are getting for comparable wind generators, like Iberdrola and Energias de Portugal, their renewable units, are just quite low.”

As for whether the new name could set the stage for an outright sale of the unit, that’s even more unlikely. “FPL is one of the stronger players in the U.S. renewables market at the moment,” said Tringas. “It’s much more likely that they would be the ones making acquisitions.”

Sometimes a name is just a name. But FPL, which stands for Florida Power & Light, probably also realized that there really shouldn’t be an “F” in FPL Energy at all. Of all the 63 wind farms and seven solar thermal facilities — and even including the natural gas, nuclear, and hydro plants — not one of them is actually in Florida.

4 Responses to “New Name for FPL Energy Touts its Clean Cred”

  1. Applaud FPL. Now we are talking; “NextEra Energy”. It is, like it or not.
    Other termed as: “The Science Hybrid Energy (SHE)”, replaces in part, Alternative, Renewable and Recovered Energy.
    “The Sixth Science Revolution”, replaces the “Rusted Industrial Revolution”.
    Et al an integral part thereof the “Science Revolution”.
    Memorandum to the Start-ups out of their garages: Keep-on inventing these new disruptive technology, all the way to 24/7/365. Your time to get a pilot project off-the-ground is coming. Indubitably, shortly thereafter commercialization is coming. Forget about the Hedgeeeees (Fund of Funds), for now; they may, most likely will not, entertain you, until Dr. Chu steps-in and most likely not with 80% FedLoanGuarantee, but 101%. Thereafter, slice the pie of that “Seeking Alpha” with them. Remember “Knowledge is Gold”, i.e., your disruptive technology. Also, keep in mind, that FPL and the three CAL’ IOUs (best utilities in Green Energy), can and most likely will be the O.C.O. of your permitted Solar Farm, (deregulations are already a history, as well as, you are not, nor can be BB+ Rated, i.e. “nada” credit facility to construct), so flipped it at a premium to them. You did work hard all of these “garage” years and you deserve it. (Did you thought about bringing constitutional ESQs in AFCs if you are the land owner, seeking siting of your Solar Farm on your land?)