NextEra Energy Partners acquires wind farms from Brookfield Renewable

NextEra Energy Partners is acquiring a 391-megawatt (MW) portfolio of four operating wind farms located in California and New Hampshire from Brookfield Renewable.

The four acquired assets are Alta Wind VIII, 150-MW wind generating facility in California; Windstar,120-MW wind generating facility in California; Coram, 22-MW wind generating facility in California; and Granite, 99-MW wind generating facility in New Hampshire. NextEra paid $733 million for the properties, subject to closing adjustments.

“This transaction demonstrates NextEra Energy Partners’ continued ability to execute its long-term growth plan,” Jim Robo, chairman and CEO of NextEra Energy, said. “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 to reduce costs and create value for LP unitholders. The assets are well-situated in strong markets with long-term renewables demand, providing long-term optionality for the portfolio.”

The transaction is subject to approval from the Federal Energy Regulatory Commission and New Hampshire Site Evaluation Committee. The company expects to close on the acquisition in the third quarter of 2021, subject to these and other regulatory approvals.

NextEra Energy Partners, a limited partnership formed by NextEra Energy, is based in Juno Beach, Fla. It owns interests in wind and solar projects across the United States as well as natural gas infrastructure assets in Texas and Pennsylvania.