NEXTERA Energy Partners, LP (NEP): ANSOFF Matrix Analysis [Jan-2025 Mise à jour]

Dans le paysage en évolution rapide des énergies renouvelables, Nextera Energy Partners, LP (NEP) est à l'avant-garde de l'innovation stratégique, traduisant un cours audacieux à travers le terrain complexe de la transformation de l'énergie propre. Avec une matrice Ansoff ambitieuse qui couvre la pénétration du marché, le développement, l'innovation des produits et la diversification stratégique, l'entreprise est prête à révolutionner la façon dont nous générons, distribuez et consommons un pouvoir durable. Plongez dans cette exploration de la feuille de route visionnaire du NEP, où les technologies de pointe, l'expansion du marché stratégique et l'engagement inébranlable envers les énergies renouvelables convergent pour façonner l'avenir de l'infrastructure énergétique mondiale.

NEXTERA Energy Partners, LP (NEP) - Matrice Ansoff: pénétration du marché

Développez le portefeuille d'énergies renouvelables dans les régions géographiques existantes

Depuis 2023, Nextera Energy Partners possède 5 668 mégawatts de projets éoliens et solaires dans 19 États. La société a généré 1,07 milliard de dollars de revenus totaux en 2022, avec un accent continu sur l'expansion des actifs d'énergie renouvelable sur les marchés existants.

Type d'énergie renouvelable	Capacité actuelle (MW)	Régions géographiques
Projets éoliens	4,152	Texas, Californie, Michigan, Kansas
Projets solaires	1,516	Californie, Floride, Nevada

Augmenter la capacité de production d'énergie éolienne sur les marchés actuels

Nextera Energy Partners prévoit d'augmenter son portefeuille renouvelable de 6 à 8% par an. En 2022, la société a investi 1,5 milliard de dollars dans de nouveaux projets d'énergie renouvelable.

• La production d'énergie éolienne a augmenté de 3,2% en 2022
• La production d'énergie solaire a augmenté de 2,7% la même année

Améliorer la rétention de la clientèle grâce à des stratégies de tarification compétitives

La société maintient un taux d'électricité moyen de 0,11 $ par kilowatt-heure, soit 7% en dessous de la moyenne nationale.

Segment de clientèle	Taux moyen ($ / kWh)	Comparaison du marché
Clients commerciaux	0.09	5% en dessous de la moyenne régionale
Clients industriels	0.07	10% en dessous de la moyenne régionale

Optimiser l'efficacité opérationnelle pour réduire les coûts de production d'énergie

Nextera Energy Partners a réalisé une efficacité opérationnelle de 92,5% en 2022, ce qui réduit les coûts de production de 0,03 $ par kilowattheures.

• Réduction des coûts opérationnels: 45 millions de dollars en 2022
• L'efficacité de maintenance s'est améliorée de 4,2%

Renforcer les efforts de marketing pour attirer plus de clients commerciaux et industriels

La société a augmenté sa clientèle commerciale et industrielle de 12,5% en 2022, ajoutant 187 nouveaux consommateurs d'énergie à grande échelle.

Type de client	De nouveaux clients ajoutés	Valeur totale du contrat
Clients commerciaux	124	215 millions de dollars
Clients industriels	63	340 millions de dollars

NEXTERA Energy Partners, LP (NEP) - Matrice ANSOFF: développement du marché

Opportunités d'énergie renouvelable dans les nouveaux États américains

En 2022, NextEra Energy Partners exploite des projets d'énergie renouvelable dans 7 États, avec un potentiel d'expansion important. La société possède 5 668 MW d'actifs éoliens et solaires aux États-Unis.

État	Potentiel d'énergie renouvelable	Présence actuelle du NEP
Texas	Potentiel éolien de 96 078 MW	Portefeuille de vent existant
Californie	Potentiel solaire de 44 577 MW	Investissements solaires limités
New Mexico	Potentiel solaire de 35 213 MW	Opportunité d'expansion

Marchés d'énergie renouvelable émergents

Nextera Energy Partners cible les marchés avec un potentiel d'énergie renouvelable élevé, en se concentrant sur les régions ayant des conditions solaires et éoliennes favorables.

• Potentiel énergétique éolien aux États-Unis: 2,3 millions de MW
• Potentiel énergétique solaire aux États-Unis: 200 000 MW
• Valeur marchande totale des énergies renouvelables en 2022: 272,5 milliards de dollars

Partenariats stratégiques avec des entreprises de services publics locaux

Nextera Energy Partners a établi des partenariats avec plusieurs sociétés de services publics, en mettant l'accent sur l'expansion de la portée du marché.

Entreprise de services publics	Type de partenariat	Investissement projeté
Pouvoir de la Floride & Lumière	Contrat d'achat d'électricité à long terme	1,2 milliard de dollars
Californie ISO	Contrat d'interconnexion de la grille	350 millions de dollars

Incitations fiscales et soutien du gouvernement

Nextera Energy Partners exploite les incitations fédérales et au niveau de l'État pour le développement des énergies renouvelables.

• Crédit d'impôt de production (PTC): 25 $ / MWh pour les projets éoliens
• Crédit d'impôt d'investissement (ITC): 30% pour les projets solaires
• Avantages fiscaux annuels estimés: 450 millions de dollars

Expansion des infrastructures de transmission et de distribution

La Société continue d'investir dans des infrastructures pour soutenir l'expansion du marché.

Type d'infrastructure	Investissement actuel	Extension projetée
Lignes de transmission	1 200 miles	500 miles supplémentaires prévus
Sous-stations	42 opérationnel	15 nouvelles sous-stations prévues

NEXTERA Energy Partners, LP (NEP) - Matrice Ansoff: développement de produits

Investissez dans des technologies de stockage d'énergie avancées

Nextera Energy Partners a investi 1,2 milliard de dollars dans des projets de stockage de batteries en 2022. La société compte actuellement 623 MW de capacité de stockage d'énergie opérationnelle au quatrième trimestre 2022. Les projets de stockage de batterie au lithium-ion représentent 78% de leur portefeuille de stockage actuel.

Technologie de stockage	Capacité (MW)	Investissement ($ m)
Batteries au lithium-ion	486	890
Piles de flux	87	210
Stockage thermique	50	100

Développer des solutions hybrides d'énergie renouvelable

Nextera Energy Partners exploite 5,7 GW d'actifs combinés éoliens et solaires. Les investissements du projet hybride ont augmenté de 42% en 2022, avec 3 nouveaux sites d'énergie renouvelable intégrés développés.

• Projets hybrides au vent: 2,3 GW
• Projets hybrides de batterie solaire: 1,4 GW
• Projets hybrides de batterie de vent: 2.0 GW

Recherchez et implémentez les technologies de réseau intelligent

La société a alloué 350 millions de dollars au développement de la technologie Smart Grid en 2022. Les infrastructures actuelles du réseau intelligent couvrent 14 États avec 2 800 miles de lignes de transmission avancées.

Créer des modèles de financement innovants

Nextera Energy Partners a levé 687 millions de dollars grâce au financement des infrastructures vertes en 2022. La société a obtenu 12 nouveaux accords de financement de projet d'une valeur totale de 1,4 milliard de dollars.

Explorez les technologies d'énergie propre émergente

L'investissement en hydrogène vert a atteint 220 millions de dollars en 2022. La capacité actuelle de production d'hydrogène verte s'élève à 45 MW, avec des plans pour s'étendre à 150 MW d'ici 2025.

Technologie	Capacité actuelle	Investissement projeté
Hydrogène vert	45 MW	220 M $
Capture de carbone	22 MW	180 M $

NEXTERA Energy Partners, LP (NEP) - Ansoff Matrix: Diversification

Enquêter sur les investissements potentiels dans des secteurs émergents d'énergie propre comme le vent offshore

Nextera Energy Partners a investi 1,3 milliard de dollars dans des projets éoliens offshore en 2022. La société compte actuellement 1 622 MW de droits de développement éolien offshore aux États-Unis. D'ici 2030, la société prévoit de développer environ 7 500 MW de capacité éolienne offshore.

Investissement éolien offshore	Montant
2022 Investissement	1,3 milliard de dollars
Droits de développement actuels	1 622 MW
Capacité planifiée d'ici 2030	7 500 MW

Explorez les opportunités dans les infrastructures de charge des véhicules électriques

Nextera Energy Partners a engagé 100 millions de dollars dans le développement des infrastructures de facturation des véhicules électriques. La société vise à installer 10 000 bornes de recharge dans 25 États d'ici 2025.

• Investissement total dans la charge EV: 100 millions de dollars
• Base de charge prévue: 10 000
• Couverture géographique cible: 25 États

Considérez les acquisitions stratégiques dans les technologies complémentaires des énergies renouvelables

En 2022, Nextera Energy Partners a achevé des acquisitions stratégiques totalisant 750 millions de dollars en technologies de stockage solaire et de batterie. La société a acquis 500 MW d'actifs supplémentaires en énergies renouvelables.

Détails d'acquisition	Valeur
Investissement total d'acquisition	750 millions de dollars
Actifs d'énergie renouvelable acquis	500 MW

Développer des technologies de capture et de séquestration du carbone

Nextera Energy Partners a alloué 250 millions de dollars à la recherche et au développement de la capture du carbone. La société vise à capturer 2 millions de tonnes métriques de CO2 par an d'ici 2027.

• Investissement en R&D: 250 millions de dollars
• Capture CO2 Capture: 2 millions de tonnes métriques par an
• Année de mise en œuvre de la cible: 2027

Se développer sur les marchés internationaux des énergies renouvelables avec un potentiel de croissance élevé

Nextera Energy Partners a engagé 500 millions de dollars pour l'expansion internationale du marché des énergies renouvelables, ciblant les marchés en Europe et en Amérique latine. La société prévoit de développer 1 000 MW de capacité internationale d'énergie renouvelable d'ici 2026.

Expansion internationale	Détails
Engagement d'investissement	500 millions de dollars
Capacité cible	1 000 MW
Régions cibles	Europe, Amérique latine

NextEra Energy Partners, LP (NEP) - Ansoff Matrix: Market Penetration

You're looking at how NextEra Energy Partners, LP maximizes returns from its current customer base and asset portfolio. This is about squeezing more out of what you already own and securing the near-term pipeline. It's the least risky quadrant, but it still requires concrete execution against stated goals.

The primary focus here is on enhancing the existing asset base and securing the near-term flow of assets from the parent company. NextEra Energy Partners, LP increased its wind repowering target to approximately 1.9 gigawatts (GW) through 2026. This organic growth strategy aims to boost output from current US assets. As of the third-quarter 2024 announcement, the total backlog of wind repowerings stood at approximately 1.6 gigawatts (GW) against that 1.9 GW target.

To feed the growth engine, NextEra Energy Partners, LP continues to look toward its sponsor. The partnership benefits from access to assets available for sale within NextEra Energy Resources' large renewable portfolio, which includes a growth backlog of about 21.5 GW.

Optimizing performance is key to hitting financial guidance. NextEra Energy Partners, LP projects run-rate contributions for adjusted EBITDA from its anticipated December 31, 2024, portfolio to be in the range of $1.9 billion to $2.1 billion for calendar year 2025. You're aiming for the high end of that, which is $2.1 billion. For context, the full year 2024 adjusted EBITDA was approximately $1.96 billion.

Securing revenue longevity means locking in current customers. The renewable energy projects in the portfolio are contracted under long-term Power Purchase Agreements (PPAs) that generally provide for fixed-price payments. At December 31, 2023, the weighted average remaining contract term across these projects was approximately 13 years. Renewable energy sales revenue from contracts with customers for the year ended December 31, 2023, was approximately $1,059 million.

Attracting yield-focused investors means delivering on distribution promises. NextEra Energy Partners, LP revised its limited partner distribution per unit growth expectation to 5% to 8% per year through at least 2026, with a specific target of 6% growth annually. The quarterly distribution declared in the third quarter of 2024 was $0.9175 per common unit, which annualized to $3.67 per common unit, reflecting an annualized increase of nearly 6% from the prior year. The expected annualized distribution rate for the fourth quarter of 2024 was $3.73 per common unit, based on the $3.52 per unit base from the fourth quarter of 2023.

Here's a quick look at the key metrics driving this market penetration strategy:

Strategic Focus Area	Target Metric	Value	Target Year/Period
Existing Asset Output Boost	Wind Repowering Target	1.9 GW	Through 2026
Asset Pipeline Access	Parent Company Growth Backlog	21.5 GW	Ongoing
Asset Performance Optimization	Run-Rate Adjusted EBITDA (High End)	$2.1 billion	Calendar Year 2025
Revenue Stability	Weighted Average Remaining Contract Term	13 years	As of December 31, 2023
Investor Attraction	Target Annual Distribution Growth Rate	6%	Through at least 2026

The execution of these internal and near-term external growth levers is designed to maintain financial stability while the company navigates capital market conditions. The partnership expects to require no growth equity until 2027.

The core actions supporting this market penetration include:

• Execute the 1.9 GW wind repowering target through 2026.
• Acquire high-yield, contracted assets from the 21.5 GW parent backlog.
• Target the high end of the $1.9 billion to $2.1 billion adjusted EBITDA range for 2025.
• Maintain long-term PPAs with a weighted average remaining term of 13 years.
• Deliver annual distribution growth at the 6% target through 2026.

Finance: draft the Q4 2025 run-rate EBITDA projection against the $2.1 billion target by next Tuesday.

NextEra Energy Partners, LP (NEP) - Ansoff Matrix: Market Development

You're looking at how NextEra Energy Partners, LP can grow by taking its existing renewable energy assets-wind and solar-into new territories. This is Market Development, and for NextEra Energy Partners, LP, the runway is North America.

Geographic Expansion in the United States

The immediate domestic play involves filling in the map. While the parent company, NextEra Energy, has an operational footprint spanning 49 U.S. states, NextEra Energy Partners, LP needs to push beyond its current base to capture untapped PPA (Power Purchase Agreement) opportunities. The target here is clear: expand the current wind and solar portfolio into the remaining 20 U.S. states not yet covered by the existing 30-state footprint. This move diversifies contract risk away from any single regional regulatory or weather pattern.

Canadian Market Entry and Deepening Presence

NextEra Energy Canada, LP, a part of the larger NextEra Energy family, has been active since 2006. NextEra Energy Partners, LP can directly benefit from this established base. The parent company already operates across four Canadian provinces. To date, NextEra Energy Canada has nine wind facilities and two energy storage facilities operating in the country. This existing operational experience and infrastructure provide a platform to secure new, long-term contracted assets for NextEra Energy Partners, LP.

Targeting Key US Revenue Regions

To enhance geographic revenue diversity, the focus shifts to high-demand, regulated markets on the coasts. Targeting new utility and corporate PPA customers in the U.S. West Coast and Northeast regions is key. This strategy capitalizes on the parent company's massive scale; NextEra Energy Resources had a 38-GW wind, solar, and storage portfolio in operation as of September 30, 2024. Furthermore, NextEra Energy Resources expects to develop approximately 36.5 GW to 46.5 GW of new renewables and storage between 2024 and 2027, creating a deep pipeline of potential acquisitions for NextEra Energy Partners, LP in these target areas.

Establishing a Foothold in Mexico

The move into Mexico leverages existing infrastructure knowledge, even as the company pivots away from gas assets. NextEra Energy had a historical connection through the South Texas Midstream portfolio, which included the 2.3 Bcf/d NET Mexico pipeline, an asset planned for sale by 2025. This experience in cross-border energy logistics and development provides a foundation to establish a presence in Mexico's growing utility-scale renewable energy sector, specifically using existing solar technology expertise.

Funding the New Market Development

The capital required for this multi-front expansion is supported by internal projections. You are required to use the $730 million to $820 million CAFD (Cash Available for Distribution) forecast for 2025 to fund initial development in these new U.S. regions. This internal cash generation is crucial, especially given the partnership's prior plan to require no growth equity until 2027.

Here's a quick look at the geographic and financial targets for this Market Development strategy:

Market Development Target Area	Metric/Goal	Relevant Financial/Operational Data
New U.S. States	Expand into remaining states	Targeting 20 new states beyond the current footprint
Canadian Market	Leverage existing operations	Parent operates in 4 Canadian provinces; 9 wind facilities operating
U.S. West Coast/Northeast	Secure new PPA customers	Parent pipeline: ~36.5 GW to ~46.5 GW of new renewables (2024-2027)
Mexico Entry	Establish utility-scale solar presence	Historical link via 2.3 Bcf/d NET Mexico pipeline asset
Funding Source	Capital allocation for initial development	Use $730 million to $820 million CAFD forecast for 2025

The strategy relies on disciplined execution across these new geographies. You should review the capital expenditure plan against the $730 million to $820 million CAFD target to ensure initial funding milestones are met.

• Expand into 20 new U.S. states.
• Deepen presence in 4 Canadian provinces.
• Target utility/corporate PPAs in West Coast/Northeast.
• Establish solar presence in Mexico.
• Fund development using $730 million to $820 million CAFD.

Finance: draft 2025 capital deployment schedule by Friday.

NextEra Energy Partners, LP (NEP) - Ansoff Matrix: Product Development

You're looking at how NextEra Energy Partners, LP expands its offerings beyond just selling electrons from existing wind and solar farms. This is about developing new services and asset classes to capture more value from the grid modernization trend, which is clearly supported by the company's massive capital commitment.

For context on the scale of operations feeding these new products, NextEra Energy Resources added 3 gigawatts (GW) to its renewables and storage backlog in the third quarter of 2025 alone, bringing the total backlog to nearly 30 GW. The parent company, NextEra Energy, Inc., has a capital expenditure plan of $74 billion through 2029, much of which funds these product developments.

Accelerate deployment of stand-alone, utility-scale battery storage projects in existing US markets like Texas and California.

The focus here is on deploying storage as a standalone product, not just a solar add-on. This is critical because markets like Texas (ERCOT) are projected to surpass 10 GW of battery storage in 2025, and California (CAISO) is expected to pass 20 GW. NextEra Energy Resources has planned to invest nearly $5.5 billion between 2025 and 2029 specifically to add 4,265 MW of storage projects. This deployment velocity is already evident; the company added 3.2 GW of renewables and storage in Q1 2025.

Here's a look at the investment focus for 2025:

• Invested $7.33 billion in solar and solar-plus-battery storage projects in 2025.
• The company's total operating battery storage capacity was 3,369 MW at the end of Q2 2024.
• The Q3 2025 results showed strong momentum, with FPL capital expenditures in the quarter hitting approximately $2.5 billion.

Introduce advanced grid-stabilization services (e.g., synchronous condensers) bundled with existing wind and solar PPAs.

Moving beyond simple energy delivery, NextEra Energy Partners, LP is bundling firming and stability products. This addresses the need for grid reliability, especially as AI infrastructure demands more consistent power. While specific deployment numbers for synchronous condensers aren't public, the strategic shift is clear in the overall capital allocation to firming capacity.

The value proposition is shifting, as shown by the relative expected costs of different capacity types:

Energy/Capacity Solution	Normalized Energy/Capacity Price
Wind	$25-$50/MWh
Solar	$35-$75/MWh
4-hour Battery Storage	$85-$115/MWh
Gas Peaker (Normalized)	$130-$150+/MWh

By adding services like synchronous condensers, NextEra Energy Partners, LP aims to push the value of its existing wind and solar Power Purchase Agreements (PPAs) closer to the firming capacity price points.

Develop and acquire next-generation renewable assets, such as green hydrogen production facilities, co-located with existing solar farms.

This is a major strategic push. NextEra Energy is evaluating more than $20 billion in hydrogen capital investment opportunities. The parent company has a long-term vision for its utility subsidiary, FPL, to convert 16 GW of its natural gas fleet to run on green hydrogen. This requires massive renewable power generation to feed the electrolyzers.

The development pipeline includes:

• A pilot project using a 25 MW electrolyzer at the FPL Cavendish NextGen Hydrogen Hub.
• Plans for a large solar facility to support a green hydrogen project in the central US, with 800 megawatts of new solar generation signed off to power one such facility.
• Partnerships targeting large-scale production, such as the joint venture with CF Industries for green ammonia.

Invest in digital optimization tools to offer predictive maintenance and higher guaranteed capacity factors to existing US customers.

The focus on digital tools supports the reliability required by hyperscalers, as evidenced by NextEra Energy Resources' existing operational excellence. The company boasts one of the top performing large fleets in the industry, with a top decile in capacity factor and forced loss. Offering higher guaranteed capacity factors is a direct product enhancement built upon this operational data advantage, likely leveraging platforms like the Optos system mentioned in other contexts.

The operational strength is reflected in the parent company's performance:

NextEra Energy, Inc.'s Q3 2025 adjusted earnings per share increased by 9.7% year-over-year, reaching $1.13. This financial performance helps fund the digital investments needed to maintain and improve operational metrics like capacity factor.

Pilot a small-scale, contracted offshore wind project, leveraging the parent company's expertise in a new technology class.

While NextEra Energy Resources is a world leader in wind, solar, and storage, with ~37 GW of generation and storage in operation, the move to offshore wind represents a new product class. This is a technology diversification play. The company's $4.35 billion investment in wind energy projects in 2025 shows continued commitment to the core technology, but a pilot in the offshore space tests new development capabilities.

The overall generation mix in operation for NextEra Energy includes:

Technology	Percentage of Operation (Approximate)
Wind	57%
Solar	21%
Nuclear	6%
Battery Storage	9%

A small-scale offshore project would be a new addition to this mix, testing the waters for future contracted development.

Finance: draft 2026 capital allocation breakdown by asset class by Friday.

NextEra Energy Partners, LP (NEP) - Ansoff Matrix: Diversification

You're looking at how NextEra Energy Partners, LP (NEP), which recently rebranded to XPLR Infrastructure, LP (XIFR) as of April 4, 2025, can expand beyond its core contracted clean energy portfolio. This diversification strategy moves into new markets and new product areas, which is the most aggressive quadrant of the Ansoff Matrix. Honestly, this is where the highest potential growth lies, but it demands new expertise and capital deployment.

NextEra Energy Partners, LP's current scale is significant; its trailing twelve months (TTM) revenue reached $1.23 Billion USD, up from $0.90 Billion USD in 2023. The parent company, NextEra Energy, Inc., expects adjusted earnings per share in the range of $3.45 to $3.70 for 2025 and plans to grow dividends per share at roughly 10% per year through at least 2026. This financial strength provides the platform for these new ventures.

Acquire and manage contracted clean water infrastructure assets, a new product in a new, adjacent US infrastructure market.

Moving into contracted clean water infrastructure means applying the existing contracted asset management model to a different utility sector. The focus here is on securing long-term, contracted cash flows, similar to the existing wind and solar assets, which previously grew the portfolio from about 1 GW to roughly 9 GW. While specific data on NEP's current water asset ownership is not public, the US market for water infrastructure investment is substantial, often driven by federal funding mechanisms.

For context on federal support in adjacent infrastructure, the National Electric Vehicle Infrastructure (NEVI) Program, established by the Infrastructure Investment and Jobs Act, has a total budget of $4.155 billion over five years. As of February 2025, the FHWA had allocated a total of $3.3 billion of that NEVI funding to states. A new venture in water infrastructure would need to secure similar long-term contracts, perhaps with municipalities or industrial users, to mirror the stability of the existing renewable contracts.

Enter the European contracted renewable energy market, starting with a stable country like the Netherlands or Germany, using existing solar/wind technology.

This is a market development play, using existing product technology (wind/solar) in a new geography. Europe is aggressively pursuing renewables; the EU targets 42.5% of gross final energy consumption from renewables by 2030. The European Renewable Energy Market size was calculated at USD 142.52 billion in 2024. Germany is a key target, holding a 28.3% share of the region's total installed capacity in 2024, and it alone installed over 7 gigawatts of solar capacity in 2022. The Netherlands and Germany already host offices for a company named Northern Electric Power technology Inc., suggesting existing local infrastructure knowledge in those regions.

Develop and own contracted carbon capture and sequestration (CCS) infrastructure for industrial clients in new US regions.

Developing CCS infrastructure is a new product offering in a new, complex market. In the UK, the Northern Endurance Partnership (NEP) project, which NextEra Energy Partners, LP's parent company is involved with through its partners, is set to transport and store up to an initial 4 million tonnes of CO2 per year, with construction starting mid-2025 and storage expected in 2028. The overall value of the related UK projects is approximately $682.76 million (EUR 650 million). A US-focused CCS venture would need to secure similar long-term transport and storage contracts, aiming for capacity that supports industrial decarbonization goals.

Partner with a major data center operator to develop a dedicated, contracted microgrid-as-a-service offering in a new international market.

This combines a new service (microgrid-as-a-service) with a new market (international data centers). NextEra Energy Resources, the sponsor, has a current backlog of nearly 30 GW of renewables and storage, with approximately 6 GW specifically intended to serve technology and data center customers as of Q2 2025. This indicates strong existing relationships and technical capability in serving this demanding sector, which can be leveraged for an international microgrid offering.

Fund a new venture focused on developing and owning electric vehicle (EV) charging infrastructure backed by long-term contracts in new US metropolitan areas.

This is a new product (EV charging infrastructure ownership) targeting new geographic areas (metropolitan areas outside current focus). The federal NEVI program, despite a temporary freeze in early 2025, has seen states award grants totaling more than $670 million as of June 2025. Pennsylvania, for example, received $171.5 million in formula funding and has 20 operational NEVI-funded stations. However, private sector deployment is massive; Tesla and Electrify America added over 7,100 new fast-charging ports in the first half of 2025 alone, suggesting that long-term contracted private ventures must compete with or complement this rapid private buildout.

Here's a quick view of the market context for these diversification vectors:

Diversification Vector	New Market/Product Context Metric	Associated Real-Life Number
Clean Water Infrastructure	Federal NEVI Program Total Budget (Adjacent Sector)	$4.155 billion
European Renewables	European Renewable Energy Market Size (2024)	USD 142.52 billion
Carbon Capture & Storage (CCS)	UK NEP Project Initial Annual CO2 Storage Capacity	4 million tonnes of CO2 per year
Data Center Microgrids	NextEra Energy Resources' Total Backlog (as of Q2 2025)	Nearly 30 GW
EV Charging Infrastructure	NEVI-funded Charging Ports Operational (Mid-August 2025)	382

The current NEP portfolio, before these moves, was built on contracted clean energy assets, with Adjusted EBITDA reported at $453 million and CAFD at $155 million in Q3 2024. The success of these new ventures hinges on replicating that contracted stability in these new areas.

• Acquire water assets with contract lives averaging over 15 years, similar to the legacy gas pipeline contracts.
• Target European markets where Germany holds 28.3% of installed capacity.
• Develop CCS capacity to reach an average of up to 23 million tonnes by 2035 with future expansion.
• Secure international data center contracts that offer similar stability to the $1.23 Billion USD TTM revenue base.
• Fund EV charging ventures where private networks added over 7,100 ports in H1 2025.

Finance: draft 13-week cash view by Friday.