NextEra Energy Partners, a growth-oriented partnership from NextEra Energy, announced this Thursday it has completed a previously announced acquisition of a 391-megawatts portfolio of four operating wind assets located in California and New Hampshire.
Firstly, the portfolio includes four wind generation facilities; as said above, with a total capacity of 391 MW. The portfolio’s capacity has already contracts with investment-grade counterparties.
Secondly, the portfolio is also cash available for distribution-weighted; remaining contract life of approximately 13 years at the time of closing. Located in California and New Hampshire, all of the acquired assets have potential for re-contracting or repowering opportunities; as they are located in strong markets.
Thirdly, the assets included in the acquisition are: Alta Wind VIII, 150-MW wind generating facility in California; Windstar,120-MW wind generating facility in California; Coram, 22-MW wind generating facility in California; Granite, 99-MW wind generating facility in New Hampshire.
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NextEra Energy Partners on a continued growth path
Moreover, in regards to the relevance of the acquisition for NextEra Energy Partners, Jim Robo, chairman and chief executive officer, said. “The completion of this transaction demonstrates NextEra Energy Partners’ continued ability to execute its long-term growth plan. This portfolio is also an attractive acquisition for NextEra Energy Partners; and is also supported by our ability to leverage NextEra Energy Resources’ best-in-class operating platform; to reduce costs and create value for LP unitholders.”
He also remarked. “The approximately 400 megawatts of long-term contracted wind projects with high-credit-quality customers are well-situated in markets with expected long-term renewables demand, which also provides incremental optionality to NextEra Energy Partners with this investment in the future.”
In addition, Robo remarked that the company “remains on a trajectory to grow LP distributions per unit by 12% to 15% through 2024; and we also believe the partnership has never been better positioned to deliver unitholder value going forward.”
Finally, Headquartered in Juno Beach, Florida, the company owns interests in geographically diverse wind and solar projects in the U.S. as well as natural gas infrastructure assets in Texas and Pennsylvania.
