By Gerson Freitas Jr, Bloomberg, November 15, 2019
Two decades ago, when coal ruled U.S. power generation, a Florida utility plowed some of its extra cash into a wind farm atop a desolate Oregon plateau.
It was the start of an unimaginably successful bet.
This year, that company — now named NextEra Energy Inc. — became the world’s first utility with a market capitalization of more than $100 billion, thanks largely to its clean-power business. It’s almost twice as valuable as the oil major ConocoPhillips and has developed enough wind and solar farms across the U.S. and Canada to power the entire nation of Greece. Shares have doubled in four years, outperforming virtually every other stock in the industry.
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