The three facilities in total will add roughly $700 million to our rate base and be recovered through the environmental clause. Also in April, FPL announced that we signed a definitive agreement with the US Department of Energy to receive $200 million in Recovery Act Funding, which FPL will use to further our Energy Smart Florida initiative. Energy Smart Florida represents an expected overall investment of about $800 million. We are investing in Smart Grid technologies as part of our commitment to building a stronger, smarter, cleaner and more efficient electrical infrastructure.Energy Smart Florida is designed to help keep service reliability high over the long term and get customers more information to manage their energy usage. The deployment of state-of-the-art Smart Grid technologies including smart meters which should improve the service we provide our 4.5 million customers and provide them with changeable benefits today while laying out the foundation for a host of future benefits. Although the weak wind resource negatively affected first quarter results of NextEra Energy Resources, the operational performance of our fleet was strong.
FPL Group, Inc. Q1 2010 Earnings Call Transcript
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