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ORDER NO. PSC-2021-0409-FOF-EI DOCKET NO. 20210127 -El PAGE $ equity securities (with the exception of the proceeds of the issuance and sale of any Revenue Bonds or other "private activity bonds" (whether structured as variable rate demand notes or otherwise) or similar securities which will be used for specific purposes) will be added to FPL's general funds and will be used to finance the acquisition or construction of additional regulated utility facilities and equipment, as well as capital improvements to and maintenance of existing facilities; to acquire (by redemption, purchase, exchange or otherwise), or to otherwise satisfy, discharge or defease, any of its outstanding debt securities or equity securities; to repay all or a portion of any maturing long-term debt obligations; to satisfy FPL's obligations under guaranties; to repay all or a portion of short-term bank borrowings, commercial paper and other short-term debt outstanding at the time of such transactions, and/or for other corporate purposes. Proceeds, if any, may be temporarily invested in short-term instruments pending their application to the foregoing purposes. As of June 30, 2021, approximately, $137 million of FPL's long-term debt will mature during 2021. In addition, in the event that the Commission declines to approve or postpones FPL's pending request for unified rates in Docket No. 20210015 -EI, and Gulf remains a standalone ratemaking entity, FPL plans to use a portion of such proceeds to provide both short-term and long-term funding during 2022 and 2023 for the regulated utility operations of Gulf as a separate ratemaking entity as discussed above. FPL also plans to use a portion of such proceeds to provide both short-term and long- term funding for the regulated utility operations of FCG. Each loan made by FPL to FCG will consist of one or more tranches. The timing of any loans made by FPL to FCG will be dependent on FCG's cash flow projections and other factors for availability by FCG to meet its cash and working capital requirements. FPL will provide short-term and long-term funding to FCG from (1) surplus funds in the treasury of FPL and (2) proceeds from FPL's borrowings under its credit facilities, FPL's debt securities or FPL's issuance of commercial paper. FPL maintains a continuous construction program, principally for electric generation, transmission and distribution facilities. FPL's long-range construction program is subject to periodic review and revision. The construction program referred to in the Applicants' application has been necessitated by continued growth in the demand for service on FPL's system and the replacement and improvements required to its existing system. It is manifestly in the public interest for FPL to raise the funds which are required to perform such service. A more detailed description of these projects is provided in the FPL and Gulf 2021-2030 Ten -Year Site Plan on file with the Commission. As of June 30, 2021, FPL estimated that capital expenditures under its 2022-2023 construction program will be approximately $14.1 billion, including Allowance for Funds Used During Construction (AFUDC). (See Exhibit B attached to the Applicants' Application). At present, one project with anticipated construction expenditures during the 2022-2023 period involves a certification of need by the Commission under the Florida Electrical Power Plant Siting Act or the Transmission Line Siting Act: the Dania Beach Clean Energy Center, a 1,163 megawatt (summer) natural gas-fired generating unit. The need for the Dania Beach Clean 24'i