NextEra has received almost $2 billion in federal subsidies

A new report by Good Jobs First has tracked federal subsidies to U.S. corporations since 2000.

Six parent companies have received $1 billion or more in federal grants and allocated tax credits (those awarded to specific companies) since 2000; 21 have received $500 million or more; and 98 have received $100 million or more. A group of 582 large companies account for 67 percent of the $68 billion total. ?

And NextEra, the Florida company currently trying to acquire Hawaiian Electric, ranks #2 on the list, with $1,938,811,949 in federal grants and allocated tax credits during the period.

According to the report, 90% of NextEra’s federal grants were the result of “a provision in the 2009 American Recovery and Reinvestment Act (Section 1603) that allows companies to receive cash payments in lieu of tax credits for the installation of renewable energy properties. Section 1603 has awarded more than $23 billion to companies with U.S. and foreign parents.”

See: “Uncle Sam’s Favorite Corporations/Identifying the Large Companies that Dominate Federal Subsidies.”


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