Natural Power has provided technical due diligence support to Apollo Funds for its $824 million investment to support NextEra Energy Partners’ acquisition of a 50% Interest in a 2.5 GW renewable energy portfolio.
The operational portfolio includes 13 utility-scale wind and solar assets, three of which feature battery storage facilities. The US-based projects, which have power purchase agreements in place, will be managed by NextEra which will provide asset management and O&M services. The transaction is subject to customary closing conditions and is expected to be complete in the fourth quarter of 2021.