The acquisition by the Florida-based renewable energy company features the solar power plants Desert Sunlight 250 and Desert Sunlight 300, and the wind facilities Brady Wind I, Brady Wind II and Javelina I.
NextEra Energy Partners expects the addition of the assets to further improve the quality and diversity of its portfolio.
NextEra Energy Partners chairman and CEO Jim Robo said: “Today, we are announcing an agreement to acquire approximately 691 megawatts of wind and solar assets from NextEra Energy Resources that will further enhance the quality and diversity of our already best-in-class portfolio and, upon closing, will complete our growth objectives for 2017.”
The company will buy a stake of 25.9% in the 250MW Desert Sunlight 250 and 300MW Desert Sunlight 300. The two solar energy facilities are located in Riverside County, California and are co-owned by NextEra Energy Resources, GE Energy Financial Services, and Sumitomo Corporation of America.
NextEra Energy Partners will also acquire stake in the 149.7MW Brady Wind I and 149MW Brady Wind II facilities located in Stark and Hettinger counties respectively in North Dakota.
Besides, the company will purchase 100% stake in the 249.7MW Javelina I wind energy center located in Webb County, Texas.
As part of the transaction, NextEra Energy Partners will also assume $459m in liabilities associated with tax equity financings and consider around $268m of existing non-recourse project debt related to the Desert Sunlight project.
The transaction is anticipated to close by the year end, subject to customary closing conditions and certain regulatory approvals.
