Nextra Energy, Inc. - NEE STOCK NEWS

NextEra Energy, Inc. (NYSE: NEE) and NextEra Energy Partners, LP (NYSE: NEP) will engage in investor meetings throughout January to discuss growth rate expectations. NextEra Energy anticipates adjusted earnings per share for 2023 to be between $2.77 and $2.97. Additionally, NextEra Energy Partners expects a long-term distribution per unit growth rate of 12% to 15% through at least 2024. NextEra is a leader in clean energy, owning the largest rate-regulated electric utility in the U.S. and generating substantial renewable energy.

Florida Power & Light Company (FPL) announced plans to file a formal request for new base rates, proposing a four-year rate plan starting January 2022. This request, expected to be submitted in March, aims to adjust base annual revenue by approximately $1.1 billion in 2022 and $615 million in 2023. Despite the proposed increases, customer bills are projected to remain below the national average, following a 10% decrease over the past 15 years. FPL plans over $29 billion in infrastructure investments through 2022 to enhance reliability and reduce emissions.

NextEra Energy Resources announced the acquisition of eIQ Mobility, a leader in mobility planning solutions, on December 8, 2020. This acquisition positions NextEra to offer comprehensive fleet assessments, aiding customers in transitioning to electric and hydrogen vehicles. With the rise in demand for sustainable solutions, eIQ Mobility's expertise in vehicle and energy analytics will help clients optimize fleet conversions, minimizing costs and emissions. This strategic move is anticipated to enhance NextEra's service offerings across commercial and municipal sectors, aligning with their clean energy goals.

NextEra Energy Partners, LP (NYSE: NEP) has priced a private placement of $600 million in 0% convertible senior notes due 2025, set to close on December 3, 2020. The notes offer a conversion rate at a 20% premium over NEP's recent $63.47 closing price. Proceeds will be primarily used to redeem existing 4.25% senior notes due 2024 and cover capped call transaction costs. NEP estimates net proceeds of approximately $589.5 million. The offering is targeted at qualified institutional buyers under Rule 144A of the Securities Act.

NextEra Energy Partners, LP (NYSE: NEP) announced a private placement of $600 million in convertible senior notes due 2025, targeting qualified institutional buyers. The notes allow holders to convert into cash or common units and are guaranteed by NextEra Energy Operating Partners. Proceeds will be used to redeem 4.25% senior notes due 2024 and fund capped call transactions. These notes are not registered under the Securities Act, limiting their transferability. Forward-looking statements include expectations on cash distributions and EBITDA but are subject to various market risks.

Gexa Energy, a prominent Texas electricity provider, has successfully transitioned all residential plans to be powered by 100% renewable energy at no additional cost. This initiative, announced on November 16, 2020, benefits over 200,000 residential customers, aligning with growing consumer demand for cleaner energy sources. Gexa’s parent company, NextEra Energy, is the largest generator of renewable energy in North America, operating over 19,000 megawatts of wind and solar generation. Gexa's commitment to renewable energy is further supported by its purchase of renewable energy certificates.

NextEra Energy, Inc. (NYSE: NEE) and NextEra Energy Partners, LP (NYSE: NEP) announced their participation in the EEI Financial Conference from Nov. 9-10, 2020, alongside various investor meetings throughout November. Senior management will discuss the companies' long-term growth rate expectations. NextEra Energy is a leader in clean energy, serving over 5.1 million customer accounts and ranking No. 1 in sustainability recognition. For presentation materials, visit NextEra Energy Investors.

NextEra Energy has announced agreements to sell a 90% interest in a 1,000 MW renewable asset portfolio and a 100% interest in a 100-MW solar-plus-storage project for approximately $1.3 billion. The portfolio will be acquired by NextEra Energy Partners and private investors, providing immediate earnings accretion. The sale proceeds will be reinvested in NextEra's extensive 15,000 MW renewables backlog, with expected annual fee income of $7 million from operations and maintenance services. Closing is anticipated in Q4 2020, contingent on regulatory approvals.

NextEra Energy Partners (NYSE: NEP) has agreed to acquire a 40% interest in a 1,000-MW renewables portfolio and a 100% interest in a 100-MW solar-plus-storage project from NextEra Energy Resources. The acquisition, valued at approximately $320 million, is projected to contribute $75-$85 million in adjusted EBITDA and $24-$29 million in cash available for distribution (CAFD) annually. Additionally, NextEra Energy Partners will secure around $1.1 billion in convertible equity portfolio financing, enhancing its balance sheet and providing access to $2.4 billion for future growth.