FPL Energy Advances Solar Strategy; Plans to Build New Solar Electric Generating Facility in California.JUNO BEACH This article is about the beach codenamed in WWII. For other uses, see Juno Beach (disambiguation) Juno Beach was one of the landing sites for Allied invaders on the coast of Normandy during D-Day. It was situated between Sword Beach and Gold Beach. , Fla. -- FPL Energy, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , (NYSE NYSE See: New York Stock Exchange :FPL) already the country's leading generator of wind and solar thermal power, announced today an important step in its strategy to add significantly to its solar power generating capability. FPL Energy, through a wholly-owned subsidiary, has filed an Application for Certification with the California Energy Commission The California Energy Commission is California’s primary energy policy and planning agency. Created in 1974 and headquartered in Sacramento, the Commission has responsibility for activities that include forecasting future energy needs, promoting energy efficiency through (CEC (Central Electronic Complex) The set of hardware that defines a mainframe, which includes the CPU(s), memory, channels, controllers and power supplies included in the box. Some CECs, such as IBM's Multiprise 2000 and 3000, include data storage devices as well. ) to construct, own and operate a 250-megawatt solar plant in the Mojave Desert Mojave or Mohave Desert, c.15,000 sq mi (38,850 sq km), region of low, barren mountains and flat valleys, 2,000 to 5,000 ft (610–1,524 m) high, S Calif.; part of the Great Basin of the United States. to be called the Beacon Solar Energy solar energy, any form of energy radiated by the sun, including light, radio waves, and X rays, although the term usually refers to the visible light of the sun. Project. FPL Energy's solar generation strategy centers on utilizing proven and scalable parabolic trough A parabolic trough is a type of solar thermal collector. It is constructed as a long parabolic mirror (usually coated silver or polished aluminum) with a Dewar tube running its length at the focal point. Sunlight is reflected by the mirror and concentrated on the Dewar tube. solar thermal technology that has been used commercially for more than 20 years. FPL Energy has nearly 20 years of experience operating similar technology at its SEGS solar thermal facilities in the Mojave Desert. As first announced at the Clinton Global Initiative last September, FPL Group, the parent company of FPL Energy, is committed to and plans to invest significantly in new solar generating facilities over the next several years. FPL Energy has set a goal of adding at least 600 megawatts of new solar by 2015. FPL Energy has already identified 1,100 megawatts of new solar sites and has leased, optioned or owns outright a significant amount of land in the west and southwest U.S. "FPL Energy is a leader in producing energy from clean and renewable sources," said Mitch Davidson, president of FPL Energy. "At a time of rising and volatile fossil-fuel costs and increasing concerns about greenhouse gases greenhouse gas n. Any of the atmospheric gases that contribute to the greenhouse effect. greenhouse gas , solar electricity can have a meaningful impact in reducing carbon dioxide carbon dioxide, chemical compound, CO2, a colorless, odorless, tasteless gas that is about one and one-half times as dense as air under ordinary conditions of temperature and pressure. emissions that scientists believe contribute to global warming global warming, the gradual increase of the temperature of the earth's lower atmosphere as a result of the increase in greenhouse gases since the Industrial Revolution. . We believe that solar power has similar long-term potential as wind energy, and we are well positioned to play a leading role in the growth of this renewable technology." The proposed Beacon Solar Energy Project will be located on an approximately 2,000 acre site in eastern Kern County, California Kern County is a county located in the southern Central Valley of the U.S. state of California. Established in 1866, it extends east beyond the southern slope of the Eastern Sierra Nevada range into the Mojave Desert, and includes parts of the Western Indian Wells Valley, and . The more than 500,000 parabolic par·a·bol·ic also par·a·bol·i·cal adj. 1. Of or similar to a parable. 2. Of or having the form of a parabola or paraboloid. mirrors will be assembled in rows to receive and concentrate the solar energy to produce steam for powering a steam turbine Steam turbine A machine for generating mechanical power in rotary motion from the energy of steam at temperature and pressure above that of an available sink. By far the most widely used and most powerful turbines are those driven by steam. generator. The generator will produce electric power for delivery to the nearby electric grid. FPL Energy expects to begin construction on the project late in 2009 and take approximately two years to complete. Once complete, the project will have little air or water emissions. The recently filed Application for Certification with the CEC is the latest example of FPL Energy's leadership and commitment to renewable energy Renewable energy utilizes natural resources such as sunlight, wind, tides and geothermal heat, which are naturally replenished. Renewable energy technologies range from solar power, wind power, and hydroelectricity to biomass and biofuels for transportation. generation. In addition to being the largest operator of solar power in the U.S. with 310 megawatts, FPL Energy is also the largest owner and operator of wind power in the country with more than 5,000 megawatts currently in operation. FPL Energy subsidiaries also currently own and operate nearly 700 megawatts of wind in California. FPL Energy is a leading competitive energy supplier utilizing clean fuels such as natural gas, wind, solar, hydroelectric and nuclear to generate electricity. It is the nation's leader in wind energy, with 56 wind facilities in operation in 16 states. It is a subsidiary of FPL Group, (NYSE:FPL) one of the nation's largest providers of electricity-related services with annual revenues of over $15 billion. FPL Group's rate-regulated subsidiary is Florida Power & Light Company, one of the nation's largest electric utilities, serving 4.5 million customer accounts in Florida. Additional information is available at www.FPLEnergy.com, www.FPLGroup.com and www.FPL.com. Cautionary Statements And Risk Factors That May Affect Future Results This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements typically express or involve discussion as to expectations, beliefs, plans, objectives, assumptions or future events or performance and often can be identified by the use of words such as "will," "expect," "believe," "anticipate," "estimate," and similar terms. Although FPL Group, Inc. (FPL Group) believes that its expectations are reasonable, because forward-looking statements are subject to certain risks and uncertainties, it can give no assurance that the forward-looking statements contained in this press release will prove to be correct, including FPL Group's expectations with respect to the Beacon Solar Energy Project. Important factors could cause FPL Group's actual results to differ materially from those projected in the forward-looking statements in this press release. Factors that could have a significant impact on FPL Group's operations and financial results, and could cause FPL Group's actual results or outcomes, both generally and specifically with respect to the Beacon Solar Energy Project, to differ materially from those discussed in the forward-looking statements include, among others: * Inability to complete construction of, or capital improvements to, the Beacon Solar Energy Project or other FPL Group power generation facilities * Inability to obtain the required regulatory approvals and permits for the construction and operation of the Beacon Solar Energy Project * Inability to obtain the supplies necessary for the construction, operation, and maintenance of the Beacon Solar Energy Project or other FPL Group power generation facilities * Changes in laws, regulations, governmental policies and regulatory actions regarding the energy industry and environmental matters * Inability of FPL Group to access capital markets or maintain its credit rating * Inability to hire and retain skilled labor for the construction and operation of the Beacon Solar Energy Project, or other changes or disruptions related to FPL Group's workforce * General economic conditions * Hazards customary to the operation and maintenance of power generation facilities, including unanticipated outages * Unusual or adverse weather conditions, including natural disasters * Transmissions constraints or other factors limiting FPL Group's ability to deliver energy * Volatility in the price of energy * Failure of FPL Group customers to perform under contracts * Increased competition in the power industry * Changes in the wholesale power markets * Costs and other effects of legal and administrative proceedings An administrative proceeding is a non-judicial determination of fault or guilt and may include in some cases penalties of various forms. A "Captain's Mast", held by a commanding officer of a warship is one such proceeding. * Terrorism or other catastrophic events These foregoing factors should be considered in connection with information regarding risks and uncertainties that may affect FPL Group's future results included in FPL Group's filings with the Securities and Exchange Commission at www.sec.gov. FPL Group undertakes no obligation to update or review any forward-looking statement to reflect events or circumstances, including unanticipated events, after the date on which such statement is made. New factors emerge from time to time and it is not possible for management to predict all of such factors, nor can it assess the impact of each such factor on the business or the extent to which any factor, or combination of facts, may cause actual results to differ materially from those contained in any forward-looking statement. Note to Editors: High-resolution logos and executive head shots are available for download at http://www.fpl.com/news/contents/logos.shtml. |
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