NextEra says it plans to build the Clearwater wind farm about 60 miles north of Colstrip.
NextEra spokesperson Bryan Garner says Puget contracted for about half of the total 750 megawatts of electricity the wind farm will produce when it comes online.
“So, there’s significant capacity remaining that could be marketed to other customers as well,” Garner says.
Puget Sound is a part-owner of both the Colstrip coal-fired power plant and the Colstrip electric transmission system. Puget Vice President of Energy Supply Ron Roberts says Colstrip Units 1 and 2 closed last year.
“That made that transmission capacity available, which ties in very nicely with the Montana wind project,” Roberts says.
Author Bio
Travis Hoium has been writing for fool.com since July 2010 and covers the solar industry, renewable energy, and gaming stocks among other things. Follow @TravisHoium
Renewable energy stocks might not be the first place you look for dividends, but maybe they should be. Leading owners of renewable energy assets have long histories of paying growing dividends and own assets that have contracted energy payments for decades.
Given low yields in bond markets and high valuations for growth stocks, dividend stocks like
Brookfield Renewable
Hannon Armstrong Sustainable Infrastructure Capital (NYSE:HASI), and
NextEra Energy Partners (NYSE:NEP) may be some of the best buys on the market today.
In the chart below, the quality score varies within a narrow range. All of the battery stocks have a good balance sheet and reasonable debt-to-equity metrics. Conversely, the overall score against its respective peers is low. This suggests that conservative investors may want to watch the stock instead of immediately buying. For example, JCI and ALB stock are trading at close to 52-week highs.
Overall and quality score on battery stocks
Valuations for those firms are fair but could be better. A general pull-back in markets may create a better entry price. As new energy demands intensify, those stocks will outperform their peers.
NextEra Energy
NextEra is a leading clean energy company headquartered in Florida. The company owns Florida Power & Light Company, which is the largest rate-regulated electric utility in the U.S. It also owns a competitive energy subsidiary, NextEra Energy Resources, which is the world’s largest producer of solar and wind energy today. NEE stock has been trading sideways since the start of the year. However, this could be a buying opportunity for investors who believe in the long-term potential of clean energy.
Source: TD Ameritrade TOS
NextEra Energy Resources is one of the company’s divisions that provides long-term, contract-based renewable power to others. The company claims it is the largest generator of solar and wind power in the world. This Florida utility is very much leading the charge in renewables and should be a major growth engine for years to come.