FPL keeps showing up as a good alternative Energy play.
ow he thinks otherwise. Leuschen isn't turning his
back on coal, which generates more than half the
U.S. electricity supply. But his company, together
with Florida Power & Light Co. (FPL ), owns one of
the world's largest solar-power plants, in
California's Mojave Desert. Investors in
Riverstone's renewable-energy fund have been told
to expect annual returns of 15% or so and perhaps
much more, based largely on the fact that most
alternative-energy producers are able to enter into
long-term contracts with utilities, some lasting 15
to 20 years.