- NextEra Energy sells 2.5GW of its renewable assets
- It signed the agreement with the Ontario Teacher’s Pension Plan Board
NextEra Energy has entered into an agreement to sell a 50 per cent non-controlling interest in a 2.5GW portfolio of long-term contracted renewables assets. The agreement is with the Ontario Teachers’ Pension Plan Board, one of the world’s largest pension plans and infrastructure investors.
The sale proceeds are expected to be redeployed into the new wind, solar and battery storage opportunities, including NextEra Energy Resources’ more than 18,000MW renewables and storage backlog.
Over the operating life of the assets in the portfolio, NextEra Energy Resources is also expected to receive an ongoing annual fee income of approximately $16m in year one and escalating thereafter for operations, maintenance and management services.
The remaining 50 per cent interest in the portfolio is under an agreement to be sold by NextEra Energy Resources to NextEra Energy Partners.