NextEra Energy Unit Completes White Pine Sale; Shares Edge Up


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NextEra Energy Resources, LLC, a subsidiary of NextEra Energy, Inc. ( NEE ), announced that one of its subsidiaries has completed the sale of all of its equity interests in White Pine Hydro Investments, LLC.

White Pine indirectly owns 351 megawatts ( MW ) of hydro generation related assets in Maine and New Hampshire through FPL Energy Maine Hydro, LLC.

The sale was based on an enterprise value of approximately $760 million, subject to typical closing adjustments and included the existing $700 million of non-recourse project debt.

NEE shares are up 0.4% to $72.12 at mid-day, within a day's range of $71.51 - $72.14, and a 52-week spread of $59.19 - $73.50.

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This article appears in: Investing , Commodities
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