NextEra Energy Partners, LP, a limited partnership carved out of NextEra Energy to operate ten wind and solar energy projects, announced terms for its IPO on Thursday. The Juno Beach, FL-based company plans to raise $325 million by offering 16.3 million shares at a price range of $19 to $21. At the midpoint of the proposed range, it would command a fully diluted market value of $1.9 billion. Parent NextEra Energy ( NEE ) is among the largest energy companies in North America, especially in wind and solar energy production.
NextEra Energy Partners, LP, which was formed in 2014 and booked $169 million in sales for the 12 months ended March 31, 2014, plans to list on the NYSE under the symbol NEP. NextEra Energy Partners initially filed confidentially on April 4, 2014. BofA Merrill Lynch, Goldman Sachs and Morgan Stanley are the joint bookrunners on the deal. It is expected to price the week of June 23, 2014.
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