In 2022, renewable energy sources will play an even larger role in powering our everyday lives. The share of energy from renewable sources in total energy consumption is expected to double in the next decade, driven by growing global concerns around climate change.
Renewable energy is an important contributor to a sustainable world, but currently only provides a small fraction of our energy needs. Fortunately, the industry is responding by developing more efficient technologies as well as expanding their offerings to meet rising demand. One company leading the way is Nextera.
From Hydroelectric To Wind & Solar Power
Since its establishment in 2017, Nextera has quickly established itself as a global provider of clean energy solutions. The company primarily focuses on two renewable energy forms, wind and solar power, but also offers services and technology related to traditional hydroelectric power. Below, we highlight some of the company’s significant achievements to date and the key drivers of its success.
Expanding Into Wind & Solar
In 2018, Nextera acquired the UK based renewable energy company, Springboard Electric, expanding its energy portfolio to include wind and solar power. This acquisition significantly increased the company’s presence in the UK market, as Springboard was one of the country’s largest independent power producers.
Nextera’s purchase of Springboard also proved to be an important strategic move in light of the UK government’s recent decision to ban new onshore wind farms. As a result of the government’s decision, new onshore wind farms may only be built in a few highly populated areas and only if they employ unique measures to reduce bird mortality.
New Onshore Wind Farm In Wales
Nextera’s latest acquisition is likely to see it increase its foothold in the UK market as it develops a 250 megawatt (MW) onshore wind farm in rural Wales. The Welsh Government has selected the site in the country’s north, near the town of Machynlleth, as part of its effort to combat climate change and reduce reliance on fossil fuels. The development is expected to create up to 180 new jobs during construction and up to 30 positions once operational.
Nextera’s Welsh project follows its 30 MW onshore wind farm in Anglesey, northeast Wales. The company also operates a 50 MW offshore wind farm off the coast of Liverpool, providing energy to almost 15,000 homes. These projects demonstrate how much demand there is for wind power in the UK, a key driver of Nextera’s recent rise in popularity. In fact, the company has doubled its revenue each year since its founding and now employs more than 400 people.
Nextera also offers flexible operation through its Off-Peak Energy platform. The service enables electricity customers to purchase extra energy in advance, either at a discounted rate or for free. This provides them with greater control over their energy use, especially in the event of a shortage or surplus. With the UK currently experiencing some of its coldest winters on record, having a small generator in your home could be beneficial during those cold winter nights. With the price of fuel increasing and supply limited, the winter of 2021 has provided a solid argument as to why this is a smart move for homeowners.
The energy industry is continually searching for ways to reduce their impact on the environment as well as our energy bills. To that end, Nextera has developed new technologies and services to decrease its carbon footprint while increasing the amount of energy it generates. One of the company’s major achievements to date is the design and construction of a 30 MW solar power plant in Morocco. The company claims this is the largest standalone solar power plant in Africa. The power plant will be controlled remotely from Nextera’s office in London and will generate revenue for the company.
Strategic Partner For The UK Government
The government recognized the growing popularity of renewables in the UK and the vital role they play in the reduction of carbon emissions. Accordingly, it has set out a strategy to achieve 100% renewable energy by 2050. This involves a number of measures, including the establishment of a national energy company and a framework for new nuclear power stations. One of the key measures will be a mass rollout of solar powered lighting, helping to reduce our energy consumption and reliance on fossil fuels. With that in mind, it is clear that in the near future, our energy choices will be heavily influenced by corporate interests. The UK Government has chosen to partner with companies like Nextera to provide the energy infrastructure needed to power our society.