NextEra chases Oklahoma wind
Company acquires 299.2MW Seiling 1 and 2 wind farms
NextEra Energy Partners has acquired the 299.2MW Seiling 1 and 2 wind farms in Dewey and Woodward counties, Oklahoma.
The deal will see NextEra’s renewables portfolio stretch to just over 2.5GW after the wind farm was purchased from a subsidiary of its sponsor, NextEra Energy Resources LLC .
The acquisition will be completed in the next month for a total cost of $323m with a further $200m in tax equity financing.
NextEra chief executive Jim Robo said: "We are pleased to announce the acquisition of these two high-quality wind energy centres, both of which are fully contracted with long-term power purchase contracts in place with strong creditworthy counterparties.
"This acquisition represents yet another example of the strength of the pipeline of organic growth opportunities that our sponsor, NextEra Energy Resources, provides and positions us to advance our growth strategy and deliver unitholder distributions consistent with the expectations we've outlined."
The company said it expects the deal to contribute EBITDA of between $73m and $83m in 2016.
Image: Tuscola Bay wind farm Michigan (NextEra)