NextEra Finalizes Deal To Add 664 MW In Assets

Posted by NAW Staff on May 13, 2015 No Comments
Categories : New & Noteworthy

NextEra Energy Partners has completed a previously announced agreement to acquire approximately 664 MW of installed wind capacity from NextEra Energy Resources LLC.

With the addition of the four projects, NextEra Energy Partners' portfolio expands to approximately 1.9 GW of contracted, clean energy projects. The facilities include the following:

  • Ashtabula Wind III, a 62.4 MW project located in Barnes County, N.D.;
  • Baldwin, a 102.4 MW wind farm located in Burleigh County, N.D.;
  • Mammoth Plains, a 198.9 MW wind farm located in Dewey and Blaine Counties, Okla.; and
  • Stateline, a 300 MW wind project located on the border of Walla Walla County, Wash., and Umatilla County, Ore.

NextEra Energy Partners expects the acquisitions to contribute 2015-adjusted EBITDA of approximately $40 million to $50 million and cash available for distribution of approximately $15 million to $20 million.

In addition, NextEra Energy Partners announced that it has completed the sale of nearly 2.6 million common units representing limited partnership interests in NextEra Energy Partners in a private placement for an aggregate purchase price of approximately $109 million.

NextEra Energy Partners used the net proceeds from the private placement of common units, proceeds from a previously announced $313 million term loan and cash on hand to fund the acquisition.

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