NextEra Energy Partners reaffirms FY24 portfolio contribution expectations

The company said, “NextEra Energy Partners (NEP) continues to expect the run-rate contribution for adjusted EBITDA from its forecasted portfolio at December 31, to be in the range of $1.9B-$2.1B. The year-end 2024 run-rate projection reflects expected calendar-year 2025 contributions from the forecasted portfolio at year-end 2024. The partnership also continues to evaluate alternatives to address its remaining convertible equity portfolio financing obligations and its cost of capital, focusing on its capital structure and the potential for redeployment of more cash flow toward driving organic cash flow growth. Given the demand for power, NextEra Energy Partners has many ways in which it can seek to grow, which could include not only acquiring assets, but also wind repowerings and potentially other organic growth opportunities. NextEra Energy Partners plans to complete its review by no later than the Q4 call and intends to provide its distribution and run-rate cash available for distribution expectations at that time.”