NextEra Energy Partners has agreed to purchase around 691MW renewable power assets from NextEra Energy Resources for a total consideration of around $812m.
The geographically diverse asset acquisition consists of a portfolio of four long-term contracted renewable energy assets.
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NextEra Energy Partners chairman and CEO Jim Robo said: “Today, we are announcing an agreement to acquire approximately 691MW of wind and solar assets from NextEra Energy Resources that will further enhance the quality and diversity of our already best-in-class portfolio and, upon closing, will complete our growth objectives for 2017.”
As part of the agreement, NextEra Energy Partners will acquire a 25.9% interest in solar plants Desert Sunlight 250 and Desert Sunlight 300, which are situated in Riverside County, California, US. They have a combined capacity of 550MW.
The deal also includes the Brady Wind I and Brady Wind II plants in Stark and Hettinger counties of North Dakota, which can generate a combined 298.7MW.
A further 249.7MW wind energy facility in Webb County, Texas, is also part of the asset acquisition portfolio.
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By GlobalDataThis latest deal is subject to working capital and other adjustments, as well as being subject to the assumption of around $459m in liabilities related to tax equity financings and $268m of existing non-recourse project debt associated with the Desert Sunlight project.
The acquisition is due to be closed by the end of this year.
