NextEra Energy Partners Acquires Four Wind Projects From Sponsor

NextEra Energy Partners has signed agreements to acquire four additional wind assets from its sponsor, NextEra Energy Resources LLC, for US$412 million.

When completed, the acquisitions will expand NextEra Energy Partners’ portfolio to approximately 1,923 megawatts of contracted projects. The four wind generating facilities have contracted generating capacity totalling 664MW.

The projects include the 62.4-MW Ashtabula Wind III facility and the 102.4-MW Baldwin plant, both in North Dakota. Also included are the 198.9-MW Mammoth Plains farm in Oklahoma and the 300-MW Stateline project on the border of Walla Walla County, Washington and Umatilla County, Oregon.

NextEra Energy Partners expects to complete the acquisitions in the second quarter of 2015.  In addition to the US$412 million, it will assume US$269 million in debt and tax equity financing. The purchase price is subject to working capital and other adjustments and also assumes additional project debt of approximately US $60 million, which is expected to close within a few months following the acquisitions.

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