Nova Southeastern University Launches $50 Million Coral Reef Research Center in Hollywood, Fla.; saves thousands with FPL's Economic Development Rate

Juno Beach, FL -- Nova Southeastern University (NSU) opened its new $50 million Center of Excellence for Coral Reef Ecosystems Research, the largest facility of its kind in the country, on Sept. 27 in Hollywood, Fla.

The Center qualified for Florida Power & Light Company's specially discounted economic development rate new or expanding businesses that meet certain minimum requirements in terms of jobs created and added energy usage, which will save tens of thousands of dollars on electric bills over four years.

At a price tag of $50 million, the Center has created 22 new academic jobs and 300 construction jobs, and it will employ 50 graduate students as well as preserving 22 existing academic jobs.

"Reefs across the world are under extreme threat from both global and local stressors. Research is urgently needed for improved understanding, management, and conservation. Our research is funded by grants and contracts, and conducted in a state-of-the-art facility right here in South Florida," said NSU President George L. Hanbury II, Ph.D. "We are grateful for this discounted rate because savings in operational expenses translates into an increased ability to keep our tuition competitive for our students and conduct research activities that help benefit society."

Protecting coral reefs also helps to protect the livelihoods of thousands of South Floridians. Florida is home to 84 percent of the nation's reef ecosystems. These ecosystems contribute more than $6 billion annually to South Florida's economy and contribute to a total of roughly 71,000 tourism, government, academic and research-related jobs, according to NSU.

"We are very pleased that our economic development rate was able to help support NSU's efforts to grow their program and create jobs while also helping to protect the coral reefs that are crucial to the environment and Florida's economy," said Pam Rauch, FPL's vice president of development and external affairs.

FPL offers discounts off its already-low business rates that are among the very lowest in the state and well below the national average as part of the company's ongoing effort to support Florida's future by helping businesses power economic growth. Businesses eligible for FPL's economic development rate receive a discount on their standard base energy and demand charges over four to five years. Visit http://www.PoweringFlorida.com for more information.

For more information on the Center, visit http://www.nova.edu/ocean/excellence or contact Ken Ma, NSU associate director of public affairs, at ken.ma@nova.edu or 954-621-7961. For more information on how to support the Center, contact Wendy Wood-Derrer, NSU-OC assistant director of development, at wendyw@nova.edu or 954-262-3617.

About Florida Power & Light Company

Florida Power & Light Company is the largest electric utility in Florida and one of the largest rate-regulated utilities in the United States. FPL serves 4.5 million customer accounts in Florida and is a leading employer in the state with approximately 10,000 employees. The company consistently outperforms national averages for service reliability while customer bills are below the national average. A clean energy leader, FPL has one of the lowest emissions profiles and one of the leading energy efficiency programs among utilities nationwide. FPL is a subsidiary of Juno Beach, Fla. - based NextEra Energy, Inc. (NYSE: NEE).