NextEra Energy Partners Acquires Wind Portfolio From Brookfield Renewable

NextEra Energy Partners (NYSE: NEP) has agreed to acquire a portfolio of U.S. onshore wind assets from Brookfield Renewable (NYSE: BEP)(NYSE: BEPC) for $733 million. The transaction will enhance NextEra Energy's growth strategy while allowing Brookfield Renewable to recycle capital into higher-returning opportunities. 

NextEra Energy Partners is acquiring three wind-powered generating facilities in California and one in New Hampshire with 391 megawatts of capacity. Brookfield secured long-term power purchase agreements with high-quality customers for nearly all the power these wind farms produce. Because of that, NextEra has high visibility into their future cash flows. That leads it to believe they'll contribute an average of $63 million to $70 million of adjusted EBITDA and cash available for distribution (CAFD) over the next five years. 

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Source Fool.com