NextEra Energy Partners, LP closes 664 MW asset acquisition

NextEra Energy Partners, LP has completed an agreement to acquire about 664 MW of operating wind power generation assets in USA from NextEra Energy Resources, LLC.

With the addition of the four wind generating facilities, NextEra Energy Partners' portfolio expands to approximately 1,923 MW of contracted, clean energy projects. The additional facilities include:

• Ashtabula Wind III, a 62.4-MW wind generating facility located in Barnes County, North Dakota;
• Baldwin, a 102.4-MW wind generating facility located in Burleigh County, North Dakota;
• Mammoth Plains, a 198.9-MW wind generating facility located in Dewey and Blaine Counties, Oklahoma.; and
• Stateline, a 300-MW wind generating facility located on the border of Walla Walla County, Wash., and Umatilla County, Oregon.

NextEra Energy Partners expects the acquisitions to contribute 2015 adjusted EBITDA of approximately US$40 million to US$50 million and cash available for distribution (CAFD) of approximately US$15 million to US$20 million. The acquisitions are expected to increase the annual run-rate of adjusted EBITDA by approximately US$75 million to US$85 million and CAFD by approximately US$28 million to US$32 million.

In addition, NextEra Energy Partners today announced that it has completed the sale of about 2.6 million common units representing limited partnership interests in NextEra Energy Partners in a private placement to certain eligible purchasers for an aggregate purchase price of approximately US$109 million.

Barclays Capital Inc., Credit Suisse Securities (USA) LLC and Goldman, Sachs & Co. acted as lead placement agents in connection with the private placement.

NextEra Energy Partners used the net proceeds from the private placement of common units, proceeds from a previously announced $313 million term loan and cash on hand to fund the purchase price of the acquisitions.

We have recently reported about several wind deals globally:

• EnergyAustralia sells 25% satke in 111 MW Waterloo wind farm - Australia
• SunEdison acquires 2 Corporate Platforms and 5 Renewable Energy Portfolios - Multicountry
• ERG Renew acquires a 24 MW wind farm from PAI Polish Alternative Investments RES Sp. z o.o. - Poland
• BlackRock acquires 90% interest in 42.5MW Elk and 37.5MW Hawkeye wind projects - USA
• ALLETE Clean Energy acquires Chanarambie and Viking wind farms - Multicountry
• GE Energy Financial Services acquires Langhope Rig Wind Farm from SSE - UK
• GS Infrastructure Partners and GBM Infraestructura buy Tres Mesas Wind Project - Mexico