NextEra Energy Inc., the largest U.S. producer of wind power, had its biggest gain in more than four years after saying it may form a “yield company” to attract investors seeking steady returns from its power plants.
It’s a 106-degree Fahrenheit day in the Mojave Desert. Heat devils dance off chocolate-hued Clark Mountain on the horizon. Air-conditioned cars zip along Interstate 15 toward Las Vegas. And inside a chain-link pen covered to keep out predators are scores of rare, threatened, sand-colored desert tortoises.
FPL Group Inc., the largest U.S. producer of renewable energy, cut plans to expand wind-energy projects for by as much as 40 percent, due to low electricity prices and uncertainty regarding climate legislation.