NextEra Energy Inc.’s quarterly profit beat estimates on July 23, as a shift to cleaner energy boosted demand for renewable power from the most valuable electricity provider in the U.S.

The company, which is headquartered in Juno Beach, Florida, has recently seen its investor base rise, as countries and corporations move further away from fossil fuels, and last year had briefly pipped Exxon Mobil Corp. as the largest U.S. energy firm by market value.

NextEra said its clean energy business added 1,840 megawatts (MW) of renewables and storage projects to its backlog in the second quarter

New investments in Florida Power & Light (FPL), its largest utility business, helped the unit add an average of 78,400 customers and increase profit by 9.4% in the second quarter.

“FPL expects to have installed more than 15 million [solar] panels by early 2022, which would put us more than 50% of the way toward completing our ‘30-by-30’ plan,” said NextEra CEO Jim Robo, referring to the unit’s goal of installing 30 million solar panels by 2030.

NextEra’s adjusted earnings of 71 cents per share were a cent above analysts’ average estimate, according to Refinitiv data.

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