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2022-07-22 12:09:32 By : Mr. Steven Halen

July 22 (Reuters) - Top U.S. renewable energy producer NextEra Energy Inc (NEE.N) on Friday posted a more than five-fold jump in profit, helped by rising demand for alternative energy.

Record temperatures and high natural gas and coal prices have sent utility bills surging, driving demand for alternative energy and battery-storage sources, benefiting companies such as NextEra.

U.S. President Joe Biden in June waived tariffs on solar panels imported from some Asian countries for two years, providing the U.S. solar sector temporary reprieve from uncertainties owed to a trade department probe into alleged tariff dodging by China. read more

About a week after the tariff exemption, NextEra lifted its adjusted earnings forecasts for 2022 through 2025.

The order backlog of NextEra Energy Resources, the company's clean energy business, swelled by more than 2 GW of new projects since the first quarter, across solar (1,200 MW), wind (815 MW), and storage projects (20 MW).

Net income attributable to NextEra for the three months ended June 30 was $1.38 billion, or 70 cents per share, compared with a profit of $256 million, or 13 cent per share, a year earlier.

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The war in Ukraine led to large increases in the amount of liquefied natural gas (LNG) and coal shipped through Rotterdam in the first half of 2022, the port said on Friday, with Russia's share falling quickly in the second quarter.

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