NextEra Energy Partners (NEP), a subsidiary of utility NextEra Energy (NEE), will buy wind farms in California and New Hampshire from Brookfield Renewable Partners. The wind turbines have a combined capacity of 400 megawatts and have long-term contracts for their electricity.
The deal will increase NextEra Energy Partners generating capacity by about 7%.
Florida-based NextEra is the world’s biggest provider of wind and solar energy. The stock pays a 1.90% dividend. The company has announced plans to electrify school buses and to build the world’s largest solar-powered battery system.
NextEra Energy Partners is a publicly-traded partnership that trades under the symbol NEP and pays a 3.31% dividend.
I added shares of NextEra Energy to my Dividend Portfolio on November 25, 2020. The stock is up 6.38% since then through the close on April 19.
The deal is expected to close in the third quarter.