NextEra Energy Partners Acquires 299 MW Of Renewable Projects

Posted by Lauren Tyler on February 25, 2016 No Comments
Categories : Projects & Contracts

NextEra Energy Partners has entered into an agreement with a subsidiary of its sponsor, NextEra Energy Resources, to acquire the Seiling I & II Wind Energy Centers comprising a 299 MW combined total wind generation site in the counties of Dewey and Woodward, Okla. When completed, the acquisition of these assets will expand NextEra Energy Partners’ portfolio of contracted renewable energy projects to approximately 2,509 MW.

“We are pleased to announce the acquisition of these two high-quality wind energy centers, both of which are fully contracted with long-term power purchase contracts in place with strong creditworthy counterparties,” says Jim Robo, NextEra CEO.

NextEra Energy Partners expects to complete the acquisition in the first quarter of this year for a total consideration of approximately $323 million, plus the assumption of approximately $200 million in tax equity financing. The partnership expects to fund the transaction, in part, through the net proceeds of an issuance of common units, with the balance of the purchase price expected to be funded through a draw under a subsidiary of NextEra Energy Partners’ revolving credit facility.

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