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 power.

"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 micah.maidenberg@wsj.com

 

(END) Dow Jones Newswires

April 19, 2021 08:06 ET (12:06 GMT)

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