Renewable energy company FPL Group announces company’s growth to shareholders

26 May 2009

US clean energy company FPL Group chairman and CEO Lew Hay told shareholders at the company’s annual meeting that they will see continued growth as a result of clean energy investment.

Hay noted that companies with low carbon-dioxide emissions rates are poised to benefit if federal policymakers set a price on carbon in response to climate change.

‘FPL Group has one of the lowest emissions rates in the sector. In fact, if every utility were as clean as FPL Group, CO2 emissions from the power sector would be reduced by nearly 50 per cent and total US carbon emissions would be reduced by 20 per cent. That’s the equivalent of removing 209 million cars from the road, or roughly 80 per cent of all vehicles in the nation.’

The company said it was pleased with its progress in 2008. According to a company statement, in terms of market capitalisation, the companies in the S&P 500 and the S&P 500 utilities index were collectively smaller at the end of 2008 than they were at the end of 2001 while FPL Group was twice as big.

The Group’s subsidiary, NextEra Energy Resources, led the US in total wind megawatts added for the seventh time in the last eight years. In addition, the company also acquired its first wind project in Canada and took the initial steps to build a new 250MW solar thermal plant in California.

‘By almost any measure – capacity, assets, earnings or market cap – we are a significantly larger, stronger and more competitive company today than we were just a few years ago,’ Hay added.

Separately, the annual meeting allowed shareholders to elect the following slate of directors to a one-year term: Sherry S Barrat, Robert M Beall, II, J Hyatt Brown, James L Camaren, J Brian Ferguson, Lewis Hay, III, Toni Jennings, Oliver D Kingsley, Jr Rudy E Schupp, Michael H Thaman, Hansel E Tookes, II, and Paul R Tregurtha.

Copyright © 2009 newnet

Tags: renewable energy, solar, wind

This story was published on Tuesday, May 26th, 2009 at 2:17 pm and is filed under North America, companies, energy efficiency, solar, wind. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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