NextEra Energy Partners to Buy Wind Assets in California, New Hampshire
By Micah Maidenberg
NextEra Energy Partners LP said it agreed to purchase four
wind-power assets in two states for about $733 million, adding to
the company's renewable energy portfolio.
The limited partnership formed by NextEra Energy Inc. to acquire
and manage renewable energy developments said Monday it will buy
the four wind generation projects from Brookfield Renewable. Three
of the projects are located in California, with the fourth in New
Hampshire, the company said. In all, they generate 391 megawatts of
"The assets are located in markets with significant long-term
renewables demand, supporting potential re-contracting or
repowering opportunities after the initial contract terms," NextEra
Energy Partners said
The company plans to acquire the assets using funds still
undrawn from convertible equity portfolio financing tied to last
year and existing debt capacity, it added.
The deal is expected to be completed in the third quarter.
NextEra Energy Partners also said it now expects adjusted
earnings before interest, taxes, depreciation and amortization to
land near the upper end of its forecast of $1.44 billion to $1.62
billion for that earnings metric.
Write to Micah Maidenberg at email@example.com
(END) Dow Jones Newswires
April 19, 2021 08:06 ET (12:06 GMT)
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