NextEra posts 72% rise in Q1 profit, puts wind plans on hold for 2013

NextEra Energy posted a profit of $461 million for the first quarter, up 72% from $269 million from the same period last year. The company expects to complete about 1.3 gigawatts of new wind power capacity in the U.S. this year, but it has no new plans for wind power next year due to the uncertainty over the renewable-energy Production Tax Credit. "While we continue to be optimistic that federal policy support for renewable development will be maintained beyond the expiration of the production tax credit at the end of the year, we are not counting on that," said Chief Financial Officer Moray Dewhurst.

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