KKR To Invest $1.4 Bln In NextEra Energy Portfolios

(RTTNews) - Investment firm KKR Monday announced the signing of agreements with NextEra Energy Resources, LLC, a subsidiary of NextEra Energy, Inc. (NEE), and NextEra Energy Partners, LP (NEP) to acquire equity interests in portfolios of contracted utility-scale wind and solar assets.

KKR will invest about $1.4 billion in total in two transactions for interests in 1,625 megawatts of renewable energy assets. This includes an around $300 million direct equity purchase from NextEra Energy Resources for a 50% interest in a 1,000 megawatt portfolio, and, separately, a $1.1 billion convertible equity portfolio financing agreement with NextEra Energy Partners for an interest in a 1,125 net MW portfolio.

KKR has also signed a Letter of Intent with NextEra Energy Partners to invest approximately $900 million in future renewable energy transactions to provide access to capital for future growth.