NextEra’s Renewables Spin-Off Raises About $443 Million In IPO

Posted by SI Staff on July 02, 2014 No Comments
Categories : New & Noteworthy

NextEra Energy Partners LP (NEP), a renewables spin-off company of NextEra Energy Inc., has raised approximately $442.7 million in its previously announced initial public offering (IPO).

NextEra Energy Inc. formed NEP as a yeildco entity that would own, operate and acquire contracted clean energy projects through its limited partner interest in NextEra Energy Operating Partners LP. According to a U.S. Securities and Exchange Commission filing NextEra announced in May, NEP will initially have interests in 10 North American wind and solar projects totaling about 990 MW.

BofA Merrill Lynch and Goldman, Sachs & Co. acted as joint book-running managers and structuring agents for the IPO, and Morgan Stanley acted as a joint book-running manager.

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