NextEra wraps up acquisition of 391-MW wind bundle from Brookfield
Image by U.S. Department of Agriculture.
NextEra Energy Partners LP (NYSE:NEP) said on Wednesday it has finalised the acquisition of a 391-MW wind portfolio in two US states from Brookfield Renewable.
The portfolio consists of three wind farms in California -- the 150-MW Alta Wind VIII, 120-MW Windstar and 22-MW Coram -- and the 99-MW Granite wind farm in New Hampshire. All of them are in operation, with almost the entire capacity being contracted with investment-grade counterparties.
As initially agreed, the deal is worth USD 733 million (EUR 624.5m).
The acquired assets are located in markets with long-term renewables demand, providing opportunities for re-contracting or repowering once the initial contracts are over, NextEra said. In June, the company launched a USD-500-million private sale of convertible senior notes to partly finance their purchase.
“The approximately 400 MW of long-term contracted wind projects with high-credit-quality customers are well-situated in markets with expected long-term renewables demand, which provides incremental optionality to NextEra Energy Partners with this investment in the future,” said chairman and CEO Jim Robo.
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