NextEra Energy Partners has entered into a deal with a subsidiary of its parent company NextEra Energy Resources, to buy Seiling I & II wind energy centres in Dewey and Woodward counties, Oklahoma, US.
The wind generation site has a combined capacity to generate 299.2MW power and, once completed, they will increase NextEra Energy Partners’ portfolio of contracted renewable energy projects to around 2,509MW.
The deal is expected to be completed by the first quarter of this year for a total consideration of around $323m, in addition to the assumption of around $200m in tax equity financing.
The purchase price is subject to working capital adjustments, while, a portion the deal will be funded through the net proceeds of an issuance of common units. The rest of the acquisition sum will be funded through a draw under a subsidiary of NextEra Energy Partners‘ revolving credit facility.
NextEra Energy Partners chairman and chief executive officer Jim Robo said:
“We are pleased to announce the acquisition of these two high-quality wind energy centers, both of which are fully contracted with long-term power purchase contracts in place with strong creditworthy counterparties.
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By GlobalData“This acquisition represents yet another example of the strength of the pipeline of organic growth opportunities that our sponsor, NextEra Energy Resources, provides and positions us to advance our growth strategy and deliver unitholder distributions consistent with the expectations we’ve outlined.”
The company expects the acquisition to contribute adjusted EBITDA of around $73m to $83m and CAFD of around $30m to $35m, each on an annual run rate basis as of December this year.
Recently, NextEra Energy Resources began permitting for a 103.4MW wind project in western New York, US, reported reNEWS.
The project is based in New York’s Canisteo, Greenwood, Hartsville, Hornellsville, Jasper, Troupsburg and West Union in Steuben County areas.
Source:
http://www.prnewswire.com/news-releases/nextera-energy-partners-lp-announces-acquisition-of-approximately-299-megawatts-of-contracted-renewables-projects-300224072.html
http://renews.biz/101390/nextera-targets-ny-wind-permit/
