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Stock Market & Financial Investment News

News Breaks
June 27, 2014
09:34 EDTNEE, NEPNextEra Energy Partners indicated to open $30.50-$31.00 on 1M shares
NextEra Energy Partners (NEP) priced 16.25M shares at $25.00. BofA/Merrill, Goldman and Morgan Stanley acted as joint book running managers for the offering. NextEra Energy Partners is a wholly owned subsidiary of NextEra Energy (NEE).
News For NEP;NEE From The Last 14 Days
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June 22, 2015
19:56 EDTNEEUtilities sector dips after EPA warns of 'significant risks' from climate change
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June 18, 2015
08:05 EDTNEENRG Yield to acquire GE EFS' 25% interest in Desert Sunlight Solar Farm
NRG Yield, Inc. (NYLD), through its subsidiary NRG Yield Operating LLC, has entered into an agreement with GE Unit (GE) GE Energy Financial Services to acquire its 25% interest in the Desert Sunlight Solar Farm in Riverside, CA for $285M subject to customary working capital adjustments, plus the assumption of $287.4M of non-recourse project level debt. The acquisition, which provides NRG Yield with a total ownership of 137.5 megawatts of operating solar capacity, will place NRG Yield into a partnership with subsidiaries of NextEra Energy (NEE) and Sumitomo Financial (SMFG), who are the 50% and 25% owners of Desert Sunlight, respectively. The transaction is expected to increase both the annual run-rate EBITDA by approximately $45M and cash available for distribution by approximately $22M by 2016. NRG Yield expects to close the transaction by June 30, 2015. The transaction is subject to customary closing conditions, including approvals by the Federal Energy Regulatory Commission and notice of the acquisition to the California Public Utilities Commission. With this acquisition, NRG Yield now owns nearly 600 megawatts of solar generation. NRG Yield is supported by its parent, NRG Energy (NRG), which owns and operates approximately 1.2 gigawatts of solar generation, thus implying a combined solar portfolio of 1.8 gigawatts.

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