FPL demolishes 1960s-era Stacks and Boilers to Make Way for Modern, High-Efficiency Power Plant in Riviera Beach

RIVIERA BEACH, Fla., June 19, 2011 /PRNewswire/ -- After serving Floridians for almost half a century, the twin red-and-white-striped, 300-foot-tall stacks and 7,500-ton boilers at Florida Power & Light Company's power plant in Riviera Beach were taken down today in preparation for the construction of FPL's Riviera Beach Next Generation Clean Energy Center.

(Logo: http://photos.prnewswire.com/prnh/20110301/FL56993LOGO )

Scheduled to open in 2014, the new, state-of-the-art power plant will use high-efficiency, combined-cycle natural gas technology to produce up to 1,250 megawatts of electricity, or enough power for approximately 250,000 of FPL's 4.5 million customers.

FPL is investing more than $1 billion to build the new facility, which will generate power with 33 percent less fuel per megawatt-hour and far fewer emissions than the former plant. Over its 30-year operational lifetime, FPL's Riviera Beach Next Generation Clean Energy Center is expected to produce net savings of hundreds of millions of dollars for FPL customers.

"This important investment will benefit our customers for decades to come with significant improvements in efficiency, environmental performance and reliability," said FPL President and CEO Armando J. Olivera. "Making smart infrastructure investments on behalf of our customers is part of FPL's commitment to maintaining strong service reliability, generating cleaner power and keeping our customers' bills lower over the long-term."

FPL's Riviera Beach Next Generation Clean Energy Center will feature three sleeker stacks, about half as high as those taken down today in a controlled demolition. Watch the iconic stacks be reduced to rubble at www.youtube.com/FPL. An artistic rendering of FPL's Riviera Beach Next Generation Clean Energy Center is available at www.FPL.com/rbec.

By modernizing this plant with the latest technology, FPL's environmental profile – already among the best in the United States – will improve. Compared to the former plant, the new plant will cut the carbon dioxide emissions rate in half and generate power with more than 90 percent fewer air emissions without using any additional water or land.

"FPL is continuing its strong commitment to clean power generation and the environment by constructing this new energy center," said Dr. James "Buddy" Powell, executive director of the Sea to Shore Alliance. "It is also great to see that FPL has taken extra effort to ensure that the warm waters near the site will continue to provide a safe habitat for the endangered Florida manatee."

For decades, the warm waters near the site have served as a safe haven for the endangered Florida manatee during the winter. The new energy center will feature an observation area to allow the public to view the manatees free of charge.

FPL's investment will also produce direct and indirect economic benefits for the surrounding area. Construction of the plant will create an estimated 650 direct jobs at peak construction and support numerous local businesses. FPL's construction contractor, Zachry Industrial, tries to use local labor and other resources when practical and cost effective. And in the plant's first full year of operation, it is expected to deliver $7 million to $9 million in new tax revenue for the City of Riviera Beach and over $20 million in new tax revenues in total.

In addition, the plant's administration building will be built to meet the U.S. Green Building Council's Leadership in Energy and Environmental Design (LEED) certification and will feature rooftop solar panels and an electric car recharging station.

FPL is also modernizing a 1960s-era site near Kennedy Space Center, Fla. Construction on FPL's Cape Canaveral Next Generation Clean Energy Center began earlier this year and is scheduled to be completed in 2013. FPL's combined investment of $2.4 billion in these two new high-efficiency clean energy centers is expected to net the company's customers an estimated $850 million to $950 million in savings over the two plants' operational lifetimes.

For more information about the Riviera Beach Next Generation Clean Energy Center, visit www.FPL.com/rbec.

Florida Power & Light Company

Florida Power & Light Company is the largest electric utility in Florida and one of the largest rate-regulated utilities in the United States. FPL serves 4.5 million customer accounts in Florida and is a leading employer in the state with approximately 10,000 employees. The company consistently outperforms national averages for service reliability while customer bills are below the national average. A clean energy leader, FPL has one of the lowest emissions profiles and one of the leading energy efficiency programs among utilities nationwide. FPL is a subsidiary of Juno Beach, Fla.-based NextEra Energy, Inc. (NYSE: NEE). For more information, visit www.FPL.com.

NextEra Energy and FPL:  Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Forward-looking statements typically express or involve discussion as to expectations, beliefs, plans, objectives, assumptions or future events or performance, climate change strategy or growth strategies and often, but not always, can be identified by the use of words such as "will," "expect," "believe," "anticipate," "estimate," and similar terms.  Forward-looking statements are not statements of historical facts and involve estimates, assumptions and uncertainties.

Although NextEra Energy, Inc. (NextEra) and Florida Power & Light Company (FPL) believe that their expectations are reasonable, because forward-looking statements are subject to risks and uncertainties, the companies can give no assurance that the forward-looking statements contained in this press release will prove to be correct, including NextEra's and FPL's expectations and assumptions with respect to the Riviera Beach Next Generation Clean Energy Center or NextEra's and FPL's other development and investment activities.  Important factors could cause NextEra's and FPL'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 NextEra's operations and financial results, and could cause NextEra's and FPL's actual results or outcomes, both generally and specifically with respect to the Riviera Beach Next Generation Clean Energy Center or NextEra's or FPL's other development and investment activities, to differ materially from those discussed in the forward-looking statements include, among others:

• Inability to complete construction of or capital improvements to the Riviera Beach Next Generation Clean Energy Center or other NextEra or FPL power generation facilities
  
• Inability to obtain the supplies necessary for the operation and maintenance of the Riviera Beach Next Generation Clean Energy Center or other NextEra or FPL power generation facilities
  
• Failure of the combined-cycle natural gas technology or other equipment to generate the quantity of electricity anticipated or otherwise perform as intended
  
• Inability to hire and retain skilled labor for the operation of the Riviera Beach Next Generation Clean Energy Center, or other changes or disruptions related to NextEra's or FPL's workforce
  
• Changes in laws, regulations, governmental policies and regulatory actions regarding the energy industry and environmental matters
  
• Inability to obtain the required regulatory approvals and permits for the construction and operation of other NextEra or FPL power generation facilities
  
• Inability of NextEra or FPL to access capital markets or maintain its credit rating
  
• 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 NextEra's or FPL's ability to deliver energy
  
• Volatility in the price of energy
  
• Failure of NextEra or FPL 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
  
• Terrorism or other catastrophic events

These foregoing factors should be considered in connection with information regarding risks and uncertainties that may affect NextEra's or FPL's future results included in NextEra's and FPL's filings with the Securities and Exchange Commission, which may be found at www.sec.gov or at www.nexteraenergy.com.

Any forward-looking statement speaks only as of the date on which such statement is made, and NextEra and FPL undertake 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, unless otherwise required by law.  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.

SOURCE Florida Power & Light Company