NextEra Energy divests US natural gas-fired facilities for $1.55bn

5 April 2016 (Last Updated April 5th, 2016 18:30)

NextEra Energy Resources' subsidiary La Frontera Ventures has divested its ownership stake in two natural gas-fired facilities in the US to Luminant, an affiliate of Energy Future Holdings (EFH), for nearly $1.55bn.

NextEra Energy Resources' subsidiary La Frontera Ventures has divested its ownership stake in two natural gas-fired facilities in the US to Luminant, an affiliate of Energy Future Holdings (EFH), for nearly $1.55bn.

Located in the state of Texas, the two power plants have a combined generating capacity of 2,988MW.

The 1,076MW Lamar Energy Center and 1,912MW Forney Energy Center began commercial operations in 2000 and 2003 respectively.

The Lamar Energy Center in Paris uses gas and steam turbines to generate electricity, which is enough to power more than one million homes. With 33 employees, the Lamar facility operates approximately 16 hours every day.

"Located in the state of Texas, the two power plants have a combined generating capacity of 2,988MW."

The Forney Energy Center in Forney also generates electricity using both gas turbines and a steam turbine. It also operates approximately 16 hours every day and generates enough electricity for more than 1.6 million homes.

A NextEra Energy Resources' affiliate will continue to operate both facilities included in the sale for an initial period of up to one year.

NextEra Energy Resources operates wind, natural gas, solar, hydroelectric and nuclear power plants across the US. Said to the largest wind generator in North America with facilities in 17 US states and Canada, NextEra has a generating capacity of more than 18,000MW.

NextEra said more than 95% of its electricity comes from clean or renewable sources.

The company also operates nuclear power generation facilities in New Hampshire, Iowa and Wisconsin as part of the NextEra Energy nuclear fleet, which is one of the largest in the US.