Operator
Good day, and welcome to the NextEra Energy and NextEra Energy Partners First Quarter 2021 Conference Call. [Operator Instructions] After today s presentation, there will be an opportunity to ask questions. [Operator Instructions].
I would now like to turn the conference over to Jessica Aldridge, Director of Investor Relations. Please go ahead ma am.
Jessica Aldridge
Director of Investor Relations
Thank you, Rocco. Good morning, everyone, and thank you for joining our first quarter 2021 combined earnings conference call for NextEra Energy and NextEra Energy Partners. With me this morning are Jim Robo, Chairman and Chief Executive Officer of NextEra Energy; Rebecca Kujawa, Executive Vice President and Chief Financial Officer of NextEra Energy; John Ketchum, President and Chief Executive Officer of NextEra Energy Resources; and Mark Hickson, Executive Vice President of NextEra Energy. All of whom are also officers of NextEra Energy Partners. As well as Eric Silagy, Pre
NextEra Energy Partners (NYSE: NEP) inks $733M acquisition deal with Brookfield Renewable (NYSE: BEP) bizjournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizjournals.com Daily Mail and Mail on Sunday newspapers.
NextEra Energy Partners (NEP) to Buy 4 Operating Wind Assets Zacks.com 5 hrs ago
NextEra Energy Partners NEP has entered into a definite agreement with
Brookfield Renewable BEP to acquire four operating wind assets from the latter for $733 million. The four wind assets are located in California and New Hampshire, and have a combined capacity of 391 megawatt (MW). These wind assets are contracted with investment-grade counterparties. The remaining contract life is nearly 13 years at the time of closing.
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These acquired assets will boost NextEra Energy Partners’ performance as these are expected to contribute adjusted EBITDA and CAFD of $63-$70 million, each on a five-year average run-rate basis, beginning Dec 31, 2021. Subject to necessary approval, the acquisition is expected to close in third-quarter 2021.
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JUNO BEACH, Fla., April 19, 2021 /PRNewswire/ NextEra Energy Partners, LP (NYSE: NEP) today announced that it has entered into a definitive agreement with Brookfield Renewable, a global owner and operator of renewable power assets, to acquire a 391-megawatt (MW) portfolio of four operating wind assets located in California and New Hampshire for a base purchase price of $733 million, subject to closing adjustments. This transaction demonstrates NextEra Energy Partners continued ability to execute its long-term growth plan, said Jim Robo, chairman and chief executive officer. This acquisition of approximately 400 megawatts of long-term contracted wind projects with high-credit-quality customers further enhances the diversity of the partnership s existing portfolio. This portfolio is an attractive acquisition for NextEra Energy Partners and is supported by our ability to leverage NextEra Energy Resources best-in-class operating platform t
Author Bio
Howard grew up in Philadelphia watching the Philly sports teams struggle for championships. He has been investing since 1989 and been a Fool since 2001. Prior to joining The Fool as a contract writer in 2019, Howard worked in the steel business as an engineer for 28 years. When he isn’t writing, he is usually out for a run, or relaxing to the music of the Grateful Dead.
What happened
Shares of
Brookfield Renewable Partners (NYSE:BEP) (NYSE:BEPC) dropped as much as 5% Monday, and remained down over 4% as of 3:25 p.m. EDT. Several names in the renewable energy sector were in the red today, but there was also some news regarding Brookfield Renewable s assets.