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Next Era’s Bet on Renewable Energy Was a Winner All Along

Breaking down the boldest bets in business.

Wind turbines at sunset.
Wind turbines at sunset.Photographer: Krisztian Bocsi/Bloomberg

NextEra Energy Inc. started becoming a green giant in 2002.

It had some gas turbines on order from General Electric and persuaded the company to swap them for a stack of its wind turbines, as our deep-dive details. It was an odd strategy for an almost-century old utility, based in Florida, no less, where gas is cheap.