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NextEra Energy Partners To Acquire Portfolio Of Four Operating Wind Assets

NextEra Energy Partners, LP (NEP) has entered into a agreement with Brookfield Renewable to acquire a 391-megawatt portfolio of four operating wind assets located in California and New Hampshire for a base purchase price of $733 million. The acquired assets are projected to contribute adjusted EBITDA and CAFD of approximately $63 to $70 million, each on a five-year average run-rate basis, beginning Dec. 31, 2021.

NextEra Energy Partners plans to fund the deal with a combination of undrawn funds remaining from the 2020 convertible equity portfolio financing and existing debt capacity.

NextEra Energy Partners now expects a Dec. 31, 2021, run rate for adjusted EBITDA in the upper end of its previously announced range of $1.44 billion to $1.62 billion and CAFD in the upper end of its previously announced range of $600 million to $680 million.

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