NextEra Energy, Inc.
NextEra Energy, Inc., through its subsidiaries, generates, stores, transmits, distributes, and sells electric power to retail and wholesale customers in North America. It operates through Florida Power & Light Company (FPL) and NEER segments. The company generates electricity from wind, solar, nuclear, natural gas, and other clean energy assets. It also invests in generation, storage, transmission, and distribution facilities; owns, develops, constructs, manages, and operates generation facilities, including renewables, nuclear and natural gas, and battery storage facilities in the wholesale energy market in the United States and Canada, as well as electric and gas transmission assets, and natural gas pipelines; provides full energy and capacity requirement services; markets and trades in energy-related commodities; and participates in the production of natural gas, natural gas liquids, and oil. As of December 31, 2025, the company had approximately 35,963 megawatts of net generating capacity; approximately 93,000 circuit miles of transmission and distribution lines; and 932 substations. It serves approximately 12 million people through approximately 6 million customer accounts on the east and lower west coasts of Florida. The company was formerly known as FPL Group, Inc. and changed its name to NextEra Energy, Inc. in 2010. NextEra Energy, Inc. was founded in 1925 and is headquartered in Juno Beach, Florida.
What does it do?
NextEra Energy is one of the biggest electricity companies in America. It does two main things: it runs Florida Power & Light, which keeps the lights on for about 12 million people in Florida, and it owns a massive portfolio of wind and solar farms across North America. Think of it as the landlord of clean energy — it builds giant wind turbines and solar panels, generates electricity, and sells that power under long-term contracts. It also has nuclear power plants, making it one of the most diversified clean energy producers in the world.
NextEra is the world's largest producer of wind and solar energy, which puts it at the center of the global shift away from fossil fuels — a trend that governments, corporations, and investors are pouring trillions of dollars into right now. The explosion in AI data centers, electric vehicles, and domestic manufacturing is creating a surge in electricity demand that America hasn't seen in decades, and NextEra is one of the few companies with the scale and infrastructure to meet it. For investors, it sits at the crossroads of two of the biggest themes in markets today: the energy transition and the AI-driven power boom.
How does it make money?
NextEra makes money in two distinct ways. Its Florida Power & Light (FPL) segment is a regulated utility — meaning the government sets what it can charge customers, giving it stable, predictable revenue like a toll booth. FPL contributed the majority of the company's earnings and serves over 5 million customer accounts across Florida. The second segment, NEER (NextEra Energy Resources), builds and operates wind, solar, and battery storage projects and sells that electricity to utilities and corporations under long-term fixed-price contracts, often lasting 20 years. Total revenue grew from $24.8B to $27.4B in the latest year, and the company converted $6.8B of that into net profit — a healthy margin.
Why do investors care?
The core growth story is simple: electricity demand is rising fast, and NextEra has a massive pipeline of clean energy projects ready to be built. The company has historically grown its dividend (the regular cash payment it makes to shareholders) by around 10% per year, which is unusually strong for a utility and attracts income-focused investors. For the thesis to work, interest rates need to fall or stabilize — utilities borrow heavily to build infrastructure, so high rates squeeze their profits and make their dividends look less attractive compared to bonds. If demand from AI data centers and EV charging continues to accelerate, NextEra's existing scale gives it a first-mover advantage that smaller competitors simply can't match quickly.
Deep Dive
MemberA full investor briefing on NextEra Energy, Inc. — history, leadership, risks, and outlook.