A Look Into NextEra Energy Partners Debt benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.
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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
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Author Bio
Matthew is a senior energy and materials specialist with The Motley Fool. He graduated from Liberty University with a degree in Biblical Studies and a Masters of Business Administration. You can follow him on Twitter for the latest news and analysis of the energy and materials industries: Follow @matthewdilallo
NextEra Energy Partners (NYSE:NEP) has agreed to acquire a portfolio of U.S. onshore wind assets from
Brookfield Renewable (NYSE:BEP)(NYSE:BEPC) for $733 million. The transaction will enhance NextEra Energy s growth strategy while allowing Brookfield Renewable to recycle capital into higher-returning opportunities.
NextEra Energy Partners is acquiring three wind-powered generating facilities in California and one in New Hampshire with 391 megawatts of capacity. Brookfield secured long-term power purchase agreements with high-quality customers for nearly all the power these wind farms produce. Because of that, NextEra has high visibi
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.