Florida Power & Light Company (FPL) announced Monday that it will build another 2100MW of solar capacity in Florida by 2023. Some of that solar power will be used to replace older coal plants. FPL’s CEO says the solar being installed is some of the least expensive ever in America. Ivan Shumkov writes at Renewables Now:
The utility is currently developing plans and evaluating potential locations for the roughly 1,500 MW of solar projects it intends to realise in 2019-2023. It believes that an undeveloped, company-owned property in western Miami-Dade County could be used for the purpose.
In its statement, FPL said it expects that, for the first time ever, solar power will outpace coal and oil combined as a percentage of the company’s energy mix by 2020. At present, FPL operates over 335 MW of solar plants.
The company also said it had recently reached a preliminary agreement with community-owned electric utility JEA to close down their co-owned coal-fired power plant in Jacksonville, Florida known as the St Johns River Power Park. Moreover, it will replace an existing older power plant in Dania Beach with a natural gas facility.
“We’re currently building some of the lowest-cost solar ever seen in America, and our investments in more efficient natural gas technology are delivering enormous savings and environmental benefits for our customers and our state,” said Eric Silagy, FPL president and CEO.
Read more here.
Latest posts by Dick Young (see all)
- Four Ways to Win the Investment Horse Race - October 11, 2019
- This is the Most Persuasive Test of High-Quality Investing: Does Your Portfolio Pass? - October 4, 2019
- Are You Confused by the Investment Hype? - September 27, 2019