NextEra Energy Partners, LP closes 664 MW asset acquisition

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
NextEra Energy Partners, LP closes 664 MW asset acquisition

NextEra Energy Partners, LP has completed an agreement to acquire about 664 MW of operating wind power generation assets in USA from NextEra Energy Resources, LLC.

With the addition of the four wind generating facilities, NextEra Energy Partners' portfolio expands to approximately 1,923 MW of contracted, clean energy projects. The additional facilities include:

  • Ashtabula Wind III, a 62.4-MW wind generating facility located in Barnes County, North Dakota;
  • Baldwin, a 102.4-MW wind generating facility located in Burleigh County, North Dakota;
  • Mammoth Plains, a 198.9-MW wind generating facility located in Dewey and Blaine Counties, Oklahoma.; and
  • Stateline, a 300-MW wind generating facility located on the border of Walla Walla County, Wash., and Umatilla County, Oregon.

NextEra Energy Partners expects the acquisitions to contribute 2015 adjusted EBITDA of approximately US$40 million to US$50 million and cash available for distribution (CAFD) of approximately US$15 million to US$20 million. The acquisitions are expected to increase the annual run-rate of adjusted EBITDA by approximately US$75 million to US$85 million and CAFD by approximately US$28 million to US$32 million.

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

Barclays Capital Inc., Credit Suisse Securities (USA) LLC and Goldman, Sachs & Co. acted as lead placement agents in connection with the private placement.

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 purchase price of the acquisitions.

We have recently reported about several wind deals globally:

 
List of country news

Country news

  • May 14, 2015

    Cheniere Energy gets green light for Corpus Christi Liquefaction Trains

    The US Energy Department has issued a final authorization for the Corpus Christi Liquefaction (CCL) project to export domestically produced LNG to countries that do not have a Free Trade Agreement (FTA) with the US. Read more
  • May 15, 2015

    Fortress and IOG close Oil & Gas investment partnership

    IOG Capital, L.P. has closed US$330 million oil & gas investment partnership with funds and accounts managed by affiliates of Fortress Investment Group LLC. Read more
  • May 18, 2015

    Trilantic Capital Management and TRP Energy Form New Oil and Gas Partnership

    Trilantic Capital Management LP (Trilantic North America) has announced a US$250 million equity commitment to invest in TRP Energy, LLC. Read more
  • May 18, 2015

    Connecticut’s town seeks hydropower developers for DBFO project

    The town of Canton in Connecticut, USA, has launched a request for proposal (RfP) for the development of the hydroelectric potential of the Upper Collinsville Dam. Read more
  • May 19, 2015

    RET Capital names Michael Young as VP Legal and Administration

    Renewable Energy Trust Capital, Inc. (RET Capital) has named Michael Young as Vice President, Legal and Administration. Young will add significantly to RET’s transaction efforts in the areas of asset acquisition and finance, as well as provide additional general oversight in legal and administrative areas. Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.