To say 2023 has been a rough year for NextEra Energy Partners (NYSE: NEP) would be an understatement. Shares of the renewable energy producer currently sit 67% below their peak value, with the bulk of that slide coming in recent weeks. While the company faces significant challenges, it has a solid foundation to help it get through this rough patch.

It also has a solid plan in place to address its issues while also continuing to expand its operations and cash flow. Because of that, it has a bright future despite the dark clouds currently overshadowing the company.

The issues facing NextEra Energy Partners were a hot topic of conversation on the joint third-quarter conference call with its parent, NextEra Energy (NYSE: NEE). Kirk Crews, the parent company's chief financial officer, said that the partnership is a financing vehicle that acquires energy infrastructure assets backed by long-term contracts with low-cost financing. Its primary funding source has been convertible equity portfolio financing (CEPF) with institutional investors like private equity funds. These had a low interest rate and converted into equity over time.

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Source Fool.com