NextEra Energy is one of the largest electric power and energy infrastructure companies in North America, organized around two complementary businesses: a regulated Florida utility (FPL) and a competitive clean energy developer (NEER). FPL is the largest U.S. electric utility, serving roughly 12 million people across Florida through more than 6 million customer accounts. FPL generates, transmits, distributes, and sells electricity to residential, commercial, and industrial customers, operating a large fleet anchored by natural gas combined cycle units, four nuclear units, and nearly 8 GW of solar generation. As a regulated utility, FPL earns an authorized return on rate base approved by the Florida Public Service Commission, with earnings growing as rate base expands through ongoing capital investment in solar, storage, transmission, and distribution. NEER develops, constructs, and operates long-term contracted generation — primarily wind, solar, and battery storage — across 44 states and parts of Canada, with roughly 37,500 MW of net generating capacity, about 95% of which is committed under long-term power purchase agreements averaging roughly 14 years of remaining contract life. NEER also owns a regulated electric transmission business, natural gas pipeline interests, and a small nuclear fleet. NEER earns returns by contracting new generation projects and capturing the spread between PPA revenue and construction, financing, and operating costs, with project economics meaningfully enhanced by federal tax credits. NEE's growth strategy centers on deploying capital across both segments to serve accelerating U.S. power demand from data centers, manufacturing reshoring, and electrification, with FPL planning $90-100B of investment through 2032 and NEER maintaining a roughly 30 GW renewables backlog alongside a 20+ GW gas generation pipeline.