NextEra Energy set CO2 emissions reduction plans, entitled Zero Carbon Blueprint and Real Zero, to further its commitment to eliminating operational carbon emissions by 2045, according to a press release on June 14.
NextEra Resources currently operated the world's largest clean energy portfolio, with a generating capacity of 24,000 MW of renewable energy and significant battery storage.
"NextEra Energy Resources has been a leader in providing clean, low-cost renewable energy for decades, and as part of our Zero Carbon Blueprint plan, we intend to significantly expand our renewables deployment to the benefit of customers in every sector," NextEra Energy Resources president and CEO Rebecca Kujawa said.
To achieve its targets, the company has developed the Zero Carbon Blueprint to outline the required steps and track its progress, resulting in decarbonizing itself while helping its industrial customers to reduce and eliminate carbon emissions from their own operations.
Re the blueprint, NextEra will: decarbonize its own business by no later than 2045; help decarbonize the U.S. power sector through continued investments in renewable energy development such as wind, solar, battery storage and hydrogen; and help decarbonize the U.S. economy by becoming a preferred partner for customers in their operational emissions reduction targets.
To reach its Real Zero goals, the company will leverage its market knowledge, data analytics and expansive base of renewable resources to help power companies transition to net-zero carbon emissions and deliver clean energy solutions to other sectors, such as technology, transportation, etc.
NextEra's decarbonization milestones include reaching a carbon emission reduction rate of 70% by 2025, later improving to 82% reduction by 2030, 87% by 2035 and 94% by 2040.
In addition to improving operational carbon emissions reductions, the company intends on providing greater transparency in its Scope 3 emissions and working with consumers on eliminating those emissions.
"We are building on our decades of innovation and investments in low-cost renewable energy to decarbonize our company while keeping bills affordable for our customers," NextEra Energy president and CEO John Ketchum said in the release. "Attaining Real Zero will be one of those achievements that provides lasting value to our customers and the communities where we do business."
Recommended Reading
CEO Darren Woods: What’s Driving Permian M&A for Exxon, Other E&Ps
2024-03-18 - Since acquiring XTO for $36 billion in 2010, Exxon Mobil has gotten better at drilling unconventional shale plays. But it needed Pioneer’s high-quality acreage to keep running in the Permian Basin, CEO Darren Woods said at CERAWeek by S&P Global.
Uinta Basin's XCL Seeks FTC OK to Buy Altamont Energy
2024-03-07 - XCL Resources is seeking approval from the Federal Trade Commission to acquire fellow Utah producer Altamont Energy LLC.
Athabasca Oil, Cenovus Energy Close Deal Creating Duvernay Pureplay
2024-02-08 - Athabasca Oil and Cenovus Energy plan to ramp up production from about 2,000 boe/d to 6,000 boe/d by 2025.
Analysts: Why Are Investors Snapping Up Gulfport Energy Stock?
2024-02-29 - Shares for Oklahoma City-based Gulfport Energy massively outperformed market peers over the past year—and analysts think the natural gas-weighted name has even more upside.
SilverBow Saga: Investor Urges E&P to Take Kimmeridge Deal
2024-03-21 - Kimmeridge’s proposal to combine Eagle Ford players Kimmeridge Texas Gas (KTG) and SilverBow Resources is gaining support from another large investor.