JUNO BEACH, Fla., Nov. 2, 2016 /PRNewswire/ -- NextEra Energy
Resources, LLC, the competitive energy subsidiary of NextEra
Energy, Inc. (NYSE: NEE), today announced that one of its
subsidiaries has completed the sale of its ownership interest in
its Marcus Hook generating assets
to an investment affiliate of Starwood Energy Group Global, LLC, an
energy infrastructure investment firm that specializes in value-add
power generation, transmission and storage energy projects. The
total consideration paid is approximately $765 million, including estimated working
capital, subject to customary closing adjustments. In the fourth
quarter of 2016, NextEra Energy Resources expects the sale to
result in net proceeds of approximately $260
million and a gain on disposition, which will be excluded
from adjusted earnings.
The transaction includes the 790-megawatt (MW) combined-cycle
Marcus Hook Energy Center and the 50-MW simple-cycle Marcus Hook 50 Energy Center. Both of
these facilities are natural gas-fired power plants located
primarily in Marcus Hook, Pa.
About NextEra Energy Resources
NextEra Energy
Resources, LLC (together with its affiliated entities, "NextEra
Energy Resources"), is a clean energy leader and is one of the
largest wholesale generators of electric power in the U.S., with
approximately 18,260 megawatts of generating capacity, which
includes megawatts associated with noncontrolling interests related
to NextEra Energy Partners, LP (NYSE: NEP), primarily in 25 states
and Canada as of April 2016. NextEra Energy Resources, together
with its affiliated entities, is the world's largest generator of
renewable energy from the wind and sun. The business operates
clean, emissions-free nuclear power generation facilities in
New Hampshire, Iowa and Wisconsin as part of the NextEra Energy
nuclear fleet, which is one of the largest in the United States. NextEra Energy Resources,
LLC is a subsidiary of Juno Beach,
Fla.-based NextEra Energy, Inc. (NYSE: NEE). For more
information, visit www.NextEraEnergyResources.com.
About Starwood Energy Group Global, LLC
Starwood
Energy Group is a private investment firm based in Greenwich, CT that specializes in energy
infrastructure investments. Through its general opportunity funds
Starwood Energy Infrastructure Fund I and II, and other affiliated
investment vehicles, Starwood Energy Group manages total equity
commitments in excess of $2 billion
and has executed transactions totaling more than $4 billion in enterprise value. The Starwood
Energy Group team brings extensive development, construction,
operations, acquisition and financing expertise to its investments,
with a focus on the natural gas and renewable power generation, and
transmission sectors. Starwood Energy Group is an affiliate of
Starwood Capital Group Global, L.P. Additional information about
Starwood Energy Group as well as Starwood Capital Group can be
found at www.starwoodenergygroup.com.
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SOURCE NextEra Energy Resources, LLC