NextEra Energy Partners explained

NextEra Energy Partners LP
Type:Publicly traded subsidiary of NextEra Energy
Location:Juno Beach, Florida, United States
Key People:James L. Robo, Chairman & CEO
Armando Pimentel, President
Area Served:North America
Industry:Renewable energy
Services:Wind power, solar power, and natural gas pipelines
Revenue:US$ 301 million[1]
Revenue Year:2014
Operating Income:US$ 162 million
Income Year:2014
Net Income:US$ 53 million
Net Income Year:2014
Assets:US$ 2.7 billion
Assets Year:2014
Equity:US$ 551 million
Equity Year:2014

NextEra Energy Partners LP, a publicly traded subsidiary of NextEra Energy, is a Juno Beach, Florida-based renewable energy company.

History

NextEra Energy Partners is a limited partnership formed in 2014 by NextEra Energy.[2] [3]

In June 2014, NextEra Energy announced an initial public offering for NextEra Energy Partners after the previously wholly owned subsidiary was approved for listing on the New York Stock Exchange under the symbol "NEP." Bank of America Merrill Lynch and Goldman Sachs structured the offering.[4] [5]

On January 9, 2015, a subsidiary of the company acquired Palo Duro Wind Project Holdings, LLC and the Palo Duro wind facility in Texas.[6]

In May 2015, the company completed the acquisition of 1,923 MW of contracted wind power projects from NextEra Energy Resources. The acquisition included facilities in North Dakota, Oklahoma, Oregon, and Washington.[7]

In November 2023, NextEra Energy Partners announced that it entered into a definitive agreement with Kinder Morgan, Inc. to sell its Texas natural gas pipeline portfolio for $1.815 billion.[8]

Operations

NextEra Energy Partners purchases and owns wind, solar power, and natural gas pipeline projects in North America.

Wind power projects

NextEra Energy Partners has wind power projects in multiple North America locations, including:

Solar power projects

NextEra Energy Partners has solar power projects in multiple North America locations, including:

See also

Notes and References

  1. Web site: NEP Profile - NextEra Energy Partners, LP Com Stock . Yahoo! Finance . finance.yahoo.com . July 14, 2015 .
  2. Web site: Company Information . NextEra Energy Partners, LP . investor.nexteraenergypartners.com . July 14, 2015 .
  3. Web site: Our Company . NextEra Energy, Inc. . nexteraenergy.com . July 14, 2015 .
  4. NextEra Energy announces commencement of initial public offering of NextEra Energy Partners, LP . NextEra Energy Partners, LP . investor.nexteraenergypartners.com . June 19, 2014 . July 14, 2015 .
  5. News: NextEra Launches Alternative Energy MLP — in Name Only . 24/7 Wall St. . Ausick, Paul . 247wallst.com . June 19, 2014 . July 14, 2015 .
  6. Web site: Nextera Energy Partners LP (NEP) Company Profile . Reuters.com . July 14, 2015 . https://web.archive.org/web/20100214180044/http://www.reuters.com/finance/stocks/companyProfile?rpc=66&symbol=NEP . dead . February 14, 2010 .
  7. News: NextEra Energy finalizes deal to acquire 664 MW in wind capacity . Froese, Michelle . Windpower Engineering & Development . May 13, 2015 . July 14, 2015 .
  8. Web site: Kinder Morgan to Acquire NextEra's South Texas Gas Pipelines for $1.82 Billion . 2023-11-09 . Investopedia . en.