June 13, 2024
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OIL & GAS RENEWABLE ENERGY

Entergy and NextEra to Develop 4.5 GW of Energy Storage Projects

Utility firm Entergy, has in statement issued on Friday, said that it had entered into an agreement with a unit of Nextra Energy, to develop up to 4.5 gigawatts (GW) of new solar and energy storage projects. The five-year agreement according to the company, will help Entergy provide renewable energy to more than 3 million customers in Arkansas, Louisiana, Mississippi and Texas.

Rebecca Kujawa, CEO of NextEra Energy Resources, said that the agreement will strengthen collaboration between the two companies.

“We believe the power sector is at an inflection point, and growing electricity demand will be met by low-cost, renewable generation and storage,” Kujawa said.

“…(the agreement) further strengthens our long-standing collaboration and adds up to 4.5 GW on top of the more than 1.7 GW of renewable energy projects already underway with Entergy.” She added.

The U.S. solar industry is thriving due to more domestic panel manufacturing, helped by federal and state policies aiming to boost clean energy on the grid to meet climate goals.

Consultancy Wood Mackenzie and the Solar Energy Industries Association expect the U.S. to install roughly 40 GW of solar capacity in 2024, the same as last year.

The Energy Information Administration forecasts that U.S. battery storage will increase by 89% by the end of 2024 if all planned energy storage systems are achieved at the targeted time.

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