NextEra Energy to Sell $2 Billion of Equity Units
The energy company will issue each unit in a stated amount of $50.
- Each unit will comprise a contract to purchase the company's common stock in the future and a 5% undivided beneficial ownership interest in a debenture due June 1, 2029, of its NextEra Energy Capital unit.
- NextEra Energy said it will guarantee the debentures.
The company's shares were down 3.6% in afternoon trading.
- Each stock purchase contract will require the holder to buy the company's shares for cash in about three years, based on a price range of $72.31 to $90.38 per share.
- The company said the higher end of the range reflects a 25% premium over the stock's Monday closing price.
- The holders are required to complete the stock purchase by no later than June 1, 2027.
NextEra Energy Capital expects to use the proceeds to help fund investments in energy and power projects and for other general corporate purposes, including the repayment of part of its outstanding commercial paper obligations.
The company expects the transaction to close Thursday.
In April, NextEra Energy reported first-quarter adjusted earnings of $0.91 per share, up from $0.84 a year earlier, while revenue fell to $5.73 billion from $6.72 billion.
Last week, the company said it continues to expect 2024, 2025 and 2026 adjusted EPS in the respective ranges of $3.23 to $3.43, $3.45 to $3.70 and $3.63 to $4. Wall Street is looking for $3.41, $3.68 and $3.99, respectively. For 2027, NextEra Energy said it expected adjusted EPS between $3.85 and $4.32. The consensus is for $4.35.
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NextEra Energy Stock Drops on Plans to Raise Capital. What to Know.
June 18, 2024, 12:26 pm EDT
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17 August 2021
Saints Solar - A Subsidiary of NextEra Energy Resources, LLC - Joins Other Renewable Energy Suppliers for Facebook's New Data Center in Mesa
Huge data center moves forward in Mesa despite Arizona water concerns
SEE THIS: https://mesazona.blogspot.com/2021/08/facebook-data-center-formerly-know-as.html
Let's backtrack to one item on the Mesa City Council agenda 17 May 2021
| File #: | 21-0552 |
| Type: | Resolution | Status: | Agenda Ready |
| In control: | City Council |
| On agenda: | 5/17/2021 |
| Title: | Approving and authorizing the City Manager to enter into a Development Agreement and Sustainable Water Service Agreement with Redale LLC, for the development of approximately 396 acres of property generally located at the southeast corner of Elliot and Ellsworth Roads. The Agreements facilitate the phased development of a large data center that will generate economic benefits to the City of Mesa and authorize the development to be a MLM Customer (large water customer) under Title 8, Chapter 10 of the Mesa City Code. (District 6) |
Below is further detail on the new solar energy plants:
West Line Solar, Solar Developer: AES (100 MW)
The first of the new solar plants scheduled to be commercially operational is “West Line Solar.” The 100MW plant will come online in October 2022 and SRP is partnering with The AES Corporation (NYSE: AES), a Fortune 500 global energy company, to develop this solar resource which will be located in the city of Eloy, part of Pinal County, Ariz. West Line Solar will be 650 acres in size and construction is set to begin in spring of 2022. . .
Facebook will receive 50MW of solar energy from this solar plant, leaving 50MW of available renewable energy that SRP will offer to residential and small business customers as part of its new solar offerings available later this year.
Randolph Solar Park, Solar Developer: EDP Renewables North America (200 MW)
The next new solar plant to become commercially operational will be “Randolph Solar Park,” which is slated to come online in 2023. SRP is partnering with EDP Renewables, a global leader in renewable energy production, to develop and operate this 200MW solar park located in the city of Coolidge, Ariz., part of Pinal County, adjacent to SRP’s Randolph 230kV substation. Randolph Solar will span across 1,346 acres, and construction is anticipated to begin in fall of 2022 . . .
Facebook will receive the full 200MW of energy from this solar plant.
Valley Farms Solar, Solar Developer: NextEra (200 MW)
The third project, “Valley Farms Solar” is expected to become commercially operational by December 2023.
Additionally, SRP and NextEra have plans to develop two solar-charged battery projects totaling nearly 350MW, Sonoran Energy Center and Storey Energy Center. Valley Farms Solar will be 1,900 acres in size and construction will begin in winter of 2022 . . .
Huge Land Sale in Pinal County Sets Up Planned 100-Megawatt Solar Project
“This is a desirable location for solar,” Miller said. “We are also working with two other companies looking to do large-scale solar projects in the area.”
- Scottsdale-based Saint Holdings sold 1,027 acres to a company called Saint Solar, an entity controlled by Florida Power & Light Co., the principal subsidiary of NextEra Energy Inc., according to real estate database Vizzda. The land sold May 15 for $14.8 million, according to Vizzda. . .The solar project is north of the planned $1 billion, 2,000-job manufacturing plant for Nikola Motor Co. and its hydrogen-electric trucks. . .
Mesa gets solar power from SRP
The city of Mesa is now one of 11 customers for Salt River Project receiving solar power from a new facility.
The power is coming from a 100-megawatt plant from Saint Solar that is part of the utility’s increasing efforts to provide its customers with renewable energy.
“The city of Mesa is always looking for ways to be a little greener,” Mesa Mayor John Giles said in a release. “Thanks to SRP’s Sustainable Energy Offering, we’ll be able to tap into our generous Arizona sunshine and add more solar power to our overall energy mix.”
“From the beginning of this process, discussing an innovative energy offering with a diverse group of customers, to now, experiencing how we jointly take a step closer to achieving our renewable energy goals, is something we recognize is extremely impactful,” SRP Associate General Manager and Chief Customer Executive Jim Pratt said in a release.
SRP’s latest renewable energy offering has a total of 33 companies signed up for 300 megawatts of power, of which the Saint Solar facility is part. SRP has a goal to reduce carbon intensity of its operations by 60% by 2035. . .
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Saints Holdings LLC
09 November 2022
Meta in Mesa + The Zuckerberg Punch
On the Eve of Halloween - a notorious time for "trick-or-treat" - the non-profit City of Mesa Newsroom was once again touting one more Golden Shovel Award for making a big economic development deal.
Mesa Earns Golden Prospector Award from AAED for Deal of the Year
" The City of Mesa's Office of Economic Development was recently awarded the Golden Prospector Award for Economic Development Deal of the Year from the Arizona Association for Economic Development (AAED) for Mesa's attraction of Meta's 396-acre, 2.5 million-square-foot mission critical data center campus. The project is a capital investment of $1 billion and brings 2,000 constructions jobs and more than 200 high-tech operational jobs once finished.
✓ The economic impacts and tax revenues that this project will generate are massive.
Based on industry assumptions over the first 10 years of operations, the Meta project is conservatively expected to generate more than $27.6 million in construction sales tax and electricity sales tax for the City of Mesa.
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SRP signs major solar deals to power Facebook data center in Mesa - AZ Big Media
Following its recent announcement to expand utility-scale solar resources to 2,025 megawatts (MW) by 2025, Salt River Project (SRP) today announced three new solar energy plants that will deliver a total of 500MW of renewable energy. Facebook announced it will be SRP’s largest off taker of these new clean energy resources, utilizing 450MW of the combined solar capacity to support Facebook’s newly announced data center in Mesa, Arizona, and help meet the company’s 100 percent renewable energy commitments.
The three projects include two 200-MW solar plants and one 100-MW solar plant. SRP is contracting with subsidiaries of solar developers AES, EDP and NextEra Energy Resources to construct and operate the three new plants. . "
17 August 2021
Saints Solar - A Subsidiary of NextEra Energy Resources, LLC - Joins Other Renewable Energy Suppliers for Facebook's New Data Center in Mesa
Huge data center moves forward in Mesa despite Arizona water concerns
A massive new data center is set to be built in Mesa, Arizona, after the City Council voted in favor of a controversial development agreement.Critics noted that the huge facility would consume millions of gallons of water as the city and state struggle with dwindling supplies.
SEE THIS: https://mesazona.blogspot.com/2021/08/facebook-data-center-formerly-know-as.html
Facebook Data Center ( Formerly Known as "Project Huckleberry" ) = A LARGE WATER CONSUMER
Let's backtrack to one item on the Mesa City Council agenda 17 May 2021
| File #: | 21-0552 |
| Type: | Resolution | Status: | Agenda Ready |
| In control: | City Council |
| On agenda: | 5/17/2021 |
| Title: | Approving and authorizing the City Manager to enter into a Development Agreement and Sustainable Water Service Agreement with Redale LLC, for the development of approximately 396 acres of property generally located at the southeast corner of Elliot and Ellsworth Roads. The Agreements facilitate the phased development of a large data center that will generate economic benefits to the City of Mesa and authorize the development to be a MLM Customer (large water customer) under Title 8, Chapter 10 of the Mesa City Code. (District 6) |
[. ] INSERT
Randolph Solar Park, Solar Developer: EDP Renewables North America (200 MW)
The next new solar plant to become commercially operational will be “Randolph Solar Park,” which is slated to come online in 2023. SRP is partnering with EDP Renewables, a global leader in renewable energy production, to develop and operate this 200MW solar park located in the city of Coolidge, Ariz., part of Pinal County, adjacent to SRP’s Randolph 230kV substation. Randolph Solar will span across 1,346 acres, and construction is anticipated to begin in fall of 2022 . . .
Facebook will receive the full 200MW of energy from this solar plant.
Valley Farms Solar, Solar Developer: NextEra (200 MW)
The third project, “Valley Farms Solar” is expected to become commercially operational by December 2023.
Additionally, SRP and NextEra have plans to develop two solar-charged battery projects totaling nearly 350MW, Sonoran Energy Center and Storey Energy Center. Valley Farms Solar will be 1,900 acres in size and construction will begin in winter of 2022 . . .
SAINTS HOLDINGS LLC
Website: Saint Holdings
Twitter: @SaintHoldings
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In addition, The City of Mesa and Meta partnered with Salt River Project (SRP), the electric utility provider for the project. SRP is helping Meta bring 450 megawatts of solar energy to Arizona. Moreover, Meta made a one-time $50,000 donation to the Mesa College Promise, a city-led program to grant financial support to Mesa high school graduates looking to attend community college. Meta has also partnered with the East Valley Hispanic Chamber of Commerce to host free small business and non-profit workshops and will be launching Community Action Grants in Mesa, a grant program that places the power of technology to use for community benefit, connecting people online or off, and improving STEM education programs.
Serving as the leading statewide advocate for responsible economic development in Arizona since 1974, AAED's foundation has been rooted in education, advocacy, and collaboration to affect positive change and increase Arizona's competitive position to attract investment and create jobs. www.AAED.com
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Meta is reportedly set to begin layoffs this week after a 70% fall in share price as Mark Zuckerberg chased the metaverse
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"Meta, the owner of Facebook and Instagram, will begin large-scale layoffs this week, according to the Wall Street Journal.
The company has watched its share price plummet by more than 70% this year, with investors wary of big investments in underwhelming metaverse offerings that could take years to become profitable—if they ever do. And while Meta remains a juggernaut in social media, threats to that business have emerged as well, with tough competition from rapidly rising rival TikTok and privacy changes on Apple devices.
Even some Meta employees working on the metaverse offerings have been unimpressed with them, according to leaked documents, with one commenting, “An empty world is a sad world.” Investors have pressured CEO Mark Zuckerberg to scale back the company’s metaverse investments, to no avail.
Zuckerberg believes the metaverse is the company’s future and says it will require more than $10 billion in annual investment. The effort has cost the company $15 billion since the beginning of last year, according to the Journal. Meta’s rapidly rising expenses caused its free cash flow to fall by 98% in the latest quarter.
Layoffs at Facebook come after even deeper ones at Twitter, where new owner Elon Musk insisted they were needed, tweeting on Friday, “There is no choice when the company is losing over $4M.”
Meta’s woes this year have caught many investors off guard. . ."
RELATED CONTENT
Google Data Centers’ Secret Cost:
Billions of Gallons of Water
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“We must continue to do our part every day,” executive director Warren Tenney wrote in a blog post. “Some of us are still high-end water users who could look for more ways to use water a bit more wisely.”
A few weeks earlier in nearby Mesa, Google proposed a plan for a giant data center among the cacti and tumbleweeds. The town is a founding member of the AMWA Arizona Municipal Water Users Association, but water conservation took a back seat in the deal it struck with the largest U.S. internet company.
- Google is guaranteed 1 million gallons a day to cool the data center, and
- up to 4 million gallons a day if it hits project milestones.
- If that was a pyramid of water jugs, it would tower thousands of feet into Arizona’s cloudless sky.
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“Data centers are expanding, they’re going everywhere. They need to be built in a way that ensures they are not taking critical resources away from water-scarce communities,” said Gary Cook, global climate campaigns director at Stand.earth, an environmental advocacy group.
Google considers its water use a proprietary trade secret and bars even public officials from disclosing the company’s consumption. But information has leaked out, sometimes through legal battles with local utilities and conservation groups. . ."
✓
Yes, data centers use a lot of water.
But a Utah company shows it doesn’t have to be that way.
". . .Beyond all the gadgets, Novva offers one innovation that should at least pique the curiosity of Utah’s drought-stricken communities: Compared to most massive data centers around the state and the world, Novva uses a fraction of the water.
There are those who might shrug off the center’s technology, like security drones so finely tuned they can detect vibrations that aren’t due to wind. Or those who turn up their nose at more data centers along the Wasatch Front, given the amount of land they consume and other environmental concerns. But with the rise of the internet, the surge of streaming, an influx of smart devices and a future of autonomous vehicles, big server farms are increasingly a mainstay of life. . .
As climate change fuels drier conditions and the West’s current “megadrought” shows no signs of ending, some of those arid communities are protesting water-guzzling data facilities. In the early 2010s, Utahns worried so much about the NSA data center’s water consumption — along with Edward Snowden’s revelations that the agency was illegally spying on U.S. citizens — that a Republican legislator proposed shutting off its supply.
In 2020, Google found itself in a legal battle with a utility provider in Red Oak, Texas, which insisted it didn’t have enough water to meet the company’s 1.5 billion-gallon annual need. And last year, the vice mayor of Mesa, Ariz., called data centers an “irresponsible” use of water.
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