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NextEra Energy Resources completes sale of hydro generating assets to a subsidiary of Brookfield Renewable Energy Partners, L.P.
JUNO BEACH, Fla. – NextEra Energy Resources, LLC, the competitive energy subsidiary of NextEra Energy, Inc. (NYSE:NEE), today announced that one of its subsidiaries has completed the sale of all of its equity interests in White Pine Hydro Investments, LLC, which indirectly owns 351 megawatts (MW) of hydro generation related assets in Maine and New Hampshire through FPL Energy Maine Hydro, LLC (Maine Hydro).
The sale was based on an enterprise value of approximately $760 million, subject to typical closing adjustments and included the existing $700 million of non-recourse project debt.
The Maine Hydro assets consist of a portfolio of hydroelectric generation plants and equity interests in eight storage reservoirs in Maine and New Hampshire. The hydro assets are located primarily on three major river systems, which are the Kennebec River system, the Androscoggin River system, and the Saco River system, with one project located on the Presumpscot River system.
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