NextEra Energy Partners has announced that it has entered into a definitive agreement with Canada Pension Plan Investment Board (CPPIB) for the sale of its portfolio of wind and solar generation assets located in Ontario, Canada, for a total consideration of approximately US$ 582.3 million.
An affiliate of NextEra Energy Resources will continue to operate all of the facilities included in the transaction under a 10-year services agreement with CPPIB. The transaction includes the sale of six fully contracted wind and solar assets, with an average contract life of approximately 16 years and 10-year average CAFD (Cash Available for Distribution) of US$ 38.4 million. Located in Ontario, the portfolio has a combined total generating capacity of approximately 396MW.