NextEra Energy, Inc. and its wholly owned subsidiary, NextEra Energy Partners, LP (NEP), announced that NextEra Energy Partners has priced an initial public offering of 16,250,000 common units, representing limited partner interests, at a price of US$25.00 per common unit.
In addition, the underwriters have a 30 day option to purchase up to an additional 2,437,500 common units from NextEra Energy Partners at the initial public offering price, less the underwriting discount. The common units of NextEra Energy Partners are listed on the New York Stock Exchange under the symbol “NEP” and began trading on June 27, 2014.
NextEra Energy Partners intends to use a portion of the net proceeds of this offering to purchase common units of NextEra Energy Operating Partners, LP, which is the entity that holds NextEra Energy Partners’ project assets.
BofA Merrill Lynch and Goldman, Sachs & Co. are acting as joint book-running managers and structuring agents for the offering, and Morgan Stanley is acting as a joint book-running manager for the offering.
The registration statement relating to these securities has been declared effective by the U.S. Securities and Exchange Commission (SEC) on June 26, 2014. These securities may not be sold nor may offers to buy be accepted prior to the time when the registration statement becomes effective.
NextEra Energy Partners, is a growth-oriented limited partnership formed by NextEra Energy, Inc., a leading clean energy company, to own, operate and acquire contracted clean energy projects with stable, long-term cash flows. Headquartered in Juno Beach, Fla., NextEra Energy Partners owns interests in wind and solar projects in North America. These renewable energy projects are fully contracted, use industry-leading technology and are located in regions that are favorable for generating energy from the wind and sun.