NextEra Energy is a regulated electric utility serving customers across Florida through its Florida Power & Light subsidiary, along with a large unregulated renewable energy business that develops and operates wind and solar power projects across the United States. Its regulated Florida utility business generates predictable earnings tied to a rate of return approved by state regulators on the capital it invests in electric grid and generation infrastructure. NextEra's renewable energy business has grown into one of the largest wind and solar power developers in the country, selling electricity through long-term contracts with utilities and corporate customers seeking renewable power, giving the company a growth business layered on top of its stable regulated utility foundation. The company's growth is tied both to rate base expansion in its regulated Florida utility and to the pace of renewable energy development and long-term power contract signings across its unregulated generation business.