NextEra Energy Partners To Buy 50% Stake In About 2,520-MW Renewables Portfolio

(RTTNews) - NextEra Energy Partners LP (NEP) said that it has reached an agreement with a subsidiary of NextEra Energy Resources LLC to acquire a 50% interest in an approximately 2,520-megawatt renewables portfolio.

NextEra Energy Partners expects to acquire the interests in the assets for a total consideration of approximately $849 million, subject to working capital and other adjustments, plus NextEra Energy Partners' share of the portfolio's total tax equity financings, which is estimated to be about $866 million at the time of closing.

NextEra Energy Partners expects to close the acquisition later this year or in early 2022.

In conjunction with the acquisition, NextEra Energy Partners has also entered into an about $824 million convertible equity portfolio financing with Apollo Global Management.