NextEra Energy, KKR and Partners to Acquire Interest in 1.1 GW Renewables Portfolio

• NextEra Energy Resources will offer a 90% passion in a 1 GW renewables portfolio and also 100% interest in a 100-MW solar-plus-storage project for about USD 1.3 billion in complete earnings

NextEra Energy has announced that a subsidiary of NextEra Energy Resources has actually entered into contracts to market a 90 percent passion in a 1,000 megawatt (MW) portfolio of long-term got renewables properties (portfolio) as well as a 100 percent rate of interest in a 100-MW solar-plus-storage project for roughly USD 1.3 billion in total profits, consisting of tax obligation equity, as well as subject to functioning capital and various other modifications. The profile is being obtained by NextEra Energy Partners and also a consortium of exclusive infrastructure capitalists led by KKR in two different transactions.

The sale profits are anticipated to be redeployed right into new wind, solar and battery storage development chances, consisting of NextEra Energy Resources' greater than 15,000-MW renewables backlog. The appealing capital reusing opportunity provides considerable value to NextEra Energy Resources and also highlights the worth of its renewables development system. Over the operating life of the properties, NextEra Energy Resources is additionally expected to obtain continuous annual fee revenue of approximately USD 7 million in year one and escalating after that, from the financiers for operations, maintenance and management services, and the transaction is anticipated to be immediately accretive to incomes.

" These transactions are anticipated to generate considerable worth for NextEra Energy shareholders," said Jim Robo, NextEra Energy chairman and CEO. "In addition to generating eye-catching continuous cost income, the sale provides a possibility to make use of the robust need for top quality, long-lasting acquired renewable resource possessions and also successfully recycle approximately USD 1.3 billion in total capital that can be redeployed right into new renewables growth possibilities. The deals highlight the worth of NextEra Energy Resources' best-in-class growth platform as well as position us well to remain to profit from what our company believe to be the most effective renewables growth setting in our background."

The portfolio consists of:

• Blue Summit III Wind Energy Center, a project firm that owns a 200.2-MW wind generation facility located in Texas.
• Ponderosa Wind Energy Center, a project business that has a 200-MW wind generation center situated in Oklahoma.
• Harmony Florida Solar Energy Center, a project business that possesses a 74.5-MW solar generation center located in Florida.
• Taylor Creek Solar Energy Center, a project company that owns a 74.5-MW solar generation center situated in Florida.
• Saint Solar Energy Center, a project business that possesses a 100-MW solar generation center located in Arizona.
• Sanford Airport Solar Energy Center, a project firm that owns a 49.4-MW solar generation center situated in Maine.
• Soldier Creek Wind Energy Center, a project business that owns a 300.4-MW wind generation center in Kansas.

The investors are purchasing a 50 percent equity interest in the portfolio and NextEra Energy Partners is buying a 40 percent equity passion. NextEra Energy Partners' purchase will also consist of 100 percent of the subscription passions in Wilmot Solar Energy Center, a project business that owns a 100-MW solar as well as 30-MW storage space generation center situated in Arizona. NextEra Energy Resources will have a right of first deal on the investors' 50 percent equity interest in the profile.

The transaction is anticipated to be completed in the 4th quarter of 2020, based on traditional closing problems and also the invoice of particular governing authorizations.