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Nichols had served as president of the utility since 2016.
A good economy and growth in southeast U.S. business climate—including a 1 percent rise in both retail electric sales and customer base in 2018—sparked the good report.
The deal, first announced in May 2018, also includes Florida City Gas, a 100-percent ownership interest in the 791-MW Oleander gas-fired plant and a 65-percent stake in the 660-MW Stanton Energy Center.
As Herbie Johnson with Southern Company said, in a session at POWER-GEN International today, hydropower is a “forever asset,” and “the most positive source of PR that we have.”
Xcel Energy is planning for several power plant retirements and contract expirations in the mid-2020s.
NextEra pledged to continue making infrastructure investments at both Gulf Power and Florida City Gas.
Current CFO Art P. Beattie will retire.
Construction of the approximately 280-acre project began in October 2017.
Southern had secured 300 acres of land at the industrial park and planned to spend more than $250 million.
Franklin Energy says the shorter contract doesn't offer the stability needed to make the proposed project financially viable.