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The World’s Only $100 Billion Utility Owes Its Rise To Wind Power

Two decades ago, when coal ruled U.S. power generation, a Florida utility plowed some of its extra cash into a wind farm atop a desolate Oregon plateau.
It was the start of an unimaginably successful bet.
This year, that company — now named NextEra Energy Inc. — became the world’s first utility with a market capitalization of more than $100 billion, thanks largely to its clean-power business. It’s almost twice as valuable as the oil major ConocoPhillips and has developed enough wind and solar farms across the U.S. and Canada to power the entire nation of Greece.
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“They made a bunch of strategic moves early and aggressively that have paid off very well for them,” said Andrew Weisel, an analyst at Scotia Howard Weil.

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