NEE - Entergy seeks Louisiana approval to add 225 MW solar power

Entergy ( NYSE: ETR ) said late Thursday it filed a request with the Louisiana Public Service Commission to develop two solar power projects in the state with total capacity of nearly 225 MW.

The company said one project with capacity of 175 MW would be located in Iberville Parish and the other would be in Ouachita Parish and account for nearly 49 MW of solar PV capacity.

If approved, Entergy ( ETR ) said it could begin construction in spring 2024, with the Iberville solar facility becoming fully operational in late 2025 and the Ouachita plant ready to deliver clean power to the grid by early 2026.

Entergy ( ETR ) also said it secured a 20-year power purchase agreement with NextEra Energy ( NEE ) subsidiary Coastal Prairie Solar for the Iberville plant.

Entergy ( ETR ) recently reported Q4 adjusted earnings of $0.51/share and initiated FY 2023 EPS guidance of $6.55-$6.85 .

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