NextEra Energy Partners Slips To Loss In Q2 - Quick Facts

NextEra Energy Partners LP (NEP) reported that its net loss attributable to the company for second-quarter 2021 was $74 million or $0.96 per unit compared to net income of $47 million or $0.69 per unit in the same quarter last year.

Total operating revenues for the quarter was $253 million, unchanged from last year.

NextEra Energy Partners said it is as well-positioned as ever to grow limited partner distributions per unit by 12% to 15% through 2024.

NextEra Energy Partners agreed to acquire an about 590-megawatt (MW) net interest in a geographically diverse portfolio of long-term contracted wind and solar projects from NextEra Energy Resources, LLC for $563 million.

The transaction is expected to close prior to year-end and to be immediately accretive to limited partner distributions.

NextEra Energy Partners continues to expect a December 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 cash available for distribution in the upper end of its previously announced range of $600 million to $680 million, reflecting calendar year 2022 expectations for the portfolio at year-end 2021.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Twitter has rolled out the tipping feature called "Tips" for everyone around the globe using the microblogging site with more payment options to choose from, including cryptocurrencies such as Bitcoin. This is a new way for people to receive and show support on Twitter with money. The feature is currently available on iOS and will be available on Android over the coming weeks. Amazon.com has launched weekly Max-Your-Vax Sweepstakes to encourage their employees to get vaccinated against COVID-19. The sweepstakes began on August 6, 2021 and ends on October 21, 2021, with six draws during the sweepstakes period for 18 prizes worth nearly $2 million, including cash prizes, new vehicle or cash and vacation plus 40 hours of Paid Time Off. Target Corp. announced its plans to hire 100,000 seasonal team members at its stores across the country for this holiday shopping season, though fewer than previous years. With this, the company aims to invest in more flexible scheduling, training, pay and benefits for its existing team members. In a statement, the company said it is also offering around 5 million more hours to its existing staff.
Follow RTT