NextEra Energy Partners Slips To Loss In Q2 - Quick Facts

(RTTNews) - NextEra Energy Partners LP (NEP) reported that its net loss attributable to the company for second-quarter 2021 was $74 million or $0.96 per unit compared to net income of $47 million or $0.69 per unit in the same quarter last year.

Total operating revenues for the quarter was $253 million, unchanged from last year.

NextEra Energy Partners said it is as well-positioned as ever to grow limited partner distributions per unit by 12% to 15% through 2024.

NextEra Energy Partners agreed to acquire an about 590-megawatt (MW) net interest in a geographically diverse portfolio of long-term contracted wind and solar projects from NextEra Energy Resources, LLC for $563 million.

The transaction is expected to close prior to year-end and to be immediately accretive to limited partner distributions.

NextEra Energy Partners continues to expect a December 31, 2021, run rate for adjusted EBITDA in the upper end of its previously announced range of $1.44 billion to $1.62 billion and cash available for distribution in the upper end of its previously announced range of $600 million to $680 million, reflecting calendar year 2022 expectations for the portfolio at year-end 2021.