NEP 611 MW renewables drop-down + KKR $900M convertible equity portfolio financing
NEP acquires six wind/solar projects ~611 MW unlevered (~15-yr remaining contract life, A/A2 avg credit). KKR financing initial coupon <1%, NEP buyout option at fixed 8.3% pre-tax return.
$1.02B
Deal Value
611MW
Capacity
Hybrid
Technology
Multi-state
Location
Deal Details
- Deal Type
- Project Finance
- Seller / Sponsor
- NextEra Energy Resources
- Buyer / Financier
- NextEra Energy Partners
- Offtaker
- NextEra Energy Partners
- Deal Value
- $1.02B acquisition + $900M KKR CEPF
- Stage
- Development
- ISO/RTO
- Multiple
- Source
- NEP
Related Deals
SRP–NextEra Arizona buildout — 3,000 MW of new solar (500 MW/yr from 2029-2034) plus 1,000 MW of battery storage to support evening ramp
NextEra Energy Resources → Salt River Project (SRP)
Selenite Springs Energy Center — 250 MW utility-scale solar PV in West Texas (ERCOT); 250 MW VPPA with Graphic Packaging as sole REC buyer; targeted COD by end of 2027
NextEra Energy Resources → Graphic Packaging Holding Company (NYSE: GPK)
XPLR Infrastructure $232M Limited-Recourse Term Loan — battery storage JV portfolio financing (four JVs with NextEra Energy Resources, ~200 net MW contracted capacity)
XPLR Infrastructure LP (formerly NextEra Energy Partners) → Undisclosed lenders (limited-recourse senior secured)
$232,000,000
ArcLight Infrastructure Partners Fund VIII — $3.9B final close (exceeded $3.0B target; focuses on power generation, transmission, solar, wind, battery storage, hydro, gas, electric and gas T&D)
ArcLight Capital Partners
$3,900,000,000
Intersect Power platform — digital power / data center + clean energy infrastructure (10.8 GW portfolio at close)
Greenbelt Capital Partners; TPG Rise Climate; Climate Adaptive Infrastructure (CAI) → Alphabet (Google)
$12B enterprise value ($4.75B cash + assumed debt)
Solar Landscape distributed/community solar warehouse facility — anchors 146 MW community solar portfolio across New Jersey, Illinois, Maryland, and Minnesota
Solar Landscape → First Citizens Bank
$600M
Get deals like this in your inbox
Free weekly clean energy deal intelligence. Every Monday.