Saturday, March 25

NextEra to Help Power Proposed Natural Gas-to-Fuel Plant in Texas

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(Bloomberg) — NextEra Energy Inc. signed a 20-year agreement to sell wind power to a Houston company planning to make gasoline from natural gas in the world’s biggest shale field.

The renewable-energy giant will supply 1,000 gigawatt-hours annually to closely held Nacero Inc.’s proposed fuel-making plant in the Permian Basin of West Texas, the companies said in a joint statement on Wednesday.

NextEra’s deliveries of wind power will complement supplies of electricity from a 200-megawatt solar array that Nacero plans to locate adjacent to the plant. Construction is scheduled to begin this year. Financial terms were not disclosed and the power-purchase agreement is contingent on the project hitting key development milestones.

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