Florida’s FPL Group Profits Drop 48% Due to Renewable Energy
Aug 1, 2008 – Edward Klump of Bloomberg News reported today that FPL Group, Inc. had a 48% drop in profits for the 2nd Q due to a “massive drop in profits for its renewable energy subsidiary.” FPL is the largest US producer of wind power. “FPL Energy, the alternative energy are of the company, reported a 98.5% decrease in net income.” FPL has built wind farms outside of Florida and it also plans to build solar capacity in Florida and California. FPL shares closed July 31 at $64.53.
