Investing in property in Florida may be a wise move as plans are underway to develop the state’s electrical infrastructure and make it a world leader in renewable energy research, development and manufacturing.

A total of $16 billion (£10 billion) will be injected into the plan by the Florida Power & Light Company (FPL). It plans to create 40,000 new jobs over the next five years.

The FPL’s aim is to vastly improve the facilities available at the utilities company and make its power plants 20 per cent more fuel-efficient by replacing their 1960s-era technology.

Armando J Oliveira, president and chief executive officer of FPL, is heading the proposals and is firmly behind Florida’s advancement.

In an interview with Floridian news website TCpalm he said: "To be able to create 40,000 jobs, generate hundreds of millions of pounds and put $290 million in the pockets of electric consumers is an opportunity we won’t see again for a very long time, if ever."

FPL is an investor-owned company and currently ranks number one in energy-efficiency programmes among electric utilities in the USA.

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