NextEra Energy Partners completes $1.63 billion sale to CPPIB

1 minute read
29 June 2018
Client work

Team:

Ash Gupta, Carl Hinzmann, Michael Bussmann

On June 29, 2018, Canada Pension Plan Investment Board ("CPPIB") completed the acquisition of an Ontario portfolio of four wind generation facilities and two solar generation facilities of NextEra Energy Partners, LP (NYSE: NEP). The portfolio has a generating capacity totaling approximately 396 megawatts. 

The total consideration consisted of approximately $740 million, subject to post-closing working capital adjustments, plus the assumption by the purchaser of approximately $889 million of existing debt.

Gowling WLG advised NextEra on tax aspects of this sale with a team that included Ash Gupta, Carl Hinzmann, Steven Baum, Michael Bussmann and Mariam Al-Shikarchy.

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