NextEra Energy to sell four natural gas-based power plants for $1.05 bn
03 Sep 2011
NextEra Energy Resources, a subsidiary of the largest wind and solar-energy producer in the US, NextEra Energy, yesterday said that it will sell its four natural gas-based power plants for $1.05 billion to power generation and transmission company LS Power Group.
The sale includes the 507-megawatt Blythe Energy Centre, a natural gas-fired facility located in California, the 668-megawatt Calhoun Energy Centre, a natural gas-fired facility located in Alabama, the 98-megawatt Cherokee Energy Centre, a natural gas-fired facility located in South Carolina, and the 879-megawatt Doswell Energy Centre, a natural gas-fired facility located in Virginia.
The four plants have a capacity of 2,152 megawatts.
The sale is expected to result in net cash proceeds of approximately $500 million after repayment of debt and transaction costs.
Florida-based NextEra Energy Resources said that it plans to continue to explore options regarding its Rhode Island State Energy Centre, which may include selling the asset.
Following the closing of the sale, NextEra Energy Resources will continue to own and operate a diverse mix of clean generating assets in 23 states in the US and Canada, with a combined capacity of more than 16,880 megawatts.
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