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NextEra Energy Resources Reports Record Q1, Adds 4 GW to Renewables Backlog

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NextEra Energy's (NEE) unit NextEra Energy Resources reported in a Q1 update that it delivered a record quarter for renewables and storage origination, adding 4 gigawatts of new generation and storage to its backlog, the company said Thursday.

This Q1 backlog includes 2.2 GW of solar capacity, 1.3 GW from battery storage, and 0.5 GW of wind, the company said.

The company already had about 9.9 GW of solar, about 7.5 GW of battery storage, and about 3.2 GW of wind capacity in its 2026-2027 COD and backlog pipeline.

For 2026 to 2027, NextEra Energy Resources targets a total capacity of about 20 GW to 27 GW.

Of this, solar capacity is expected to be 8.5 GW to 11.5 GW, battery storage 8 GW to 10 GW, and wind 3.5 GW to 5.5 GW.

For 2026 to 2032, the company sees total additions reaching 76.6 GW to 107.6 GW, driven by solar at 31.5 GW to 41.5 GW, battery storage at 32 GW to 43 GW, wind at 8.5 GW to 14.5 GW, and gas at 4 GW to 8 GW, it said.

The company increased its total backlog to about 33 GW. As of April 23, net of about 0.3 GW has been placed in service and about 0.4 GW of projects have been removed from backlog since Jan. 27, the company said.

John Ketchum, chairman, president and chief executive officer, said, "We expect to grow adjusted earnings per share at a compound annual growth rate of 8%+ through 2032 and are targeting the same from 2032 through 2035, all off the 2025 base."

He added, "Importantly, our forecasted growth is visible and balanced between our regulated and long-term contracted businesses," while highlighting its scale across 49 states and multiple growth platforms.

NextEra Energy Resources is advancing its data center hub strategy, with the US Department of Commerce selecting it to build 9.5 GW of gas-fired generation in Texas and Pennsylvania tied to Japan's $550 billion US investment plan, it said.

The company is developing the projects while the US and Japan retain ownership and is advancing permitting and commercial work, backed by over 30 data center hubs with a target of about 40 by year-end, it added.

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