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Chesapeake Power projects new energy investment
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he following is a statement fromOntario Teachers’ Pension Plan Plan , parent of the PLAN and a principal investor in the Plan:
“We are pleased to invest alongside NextEra to support its $11 billion renewable portfolio with the Oaktree transaction, which supports NextEra’s new strategic growth priorities.”
nextEra Energy Resources , (NYSE: NEE)
will use the proceeds of the sale to reduce debt.
NextEra Energy Resources will continue to manage the portfolio through its Board of Directors and the Oaktree team.
Under the terms of the transaction, NextEra Energy Resources, a subsidiary of NextEra Energy, will sell some of its recently acquired U.S. wind and solar assets to Oaktree Capital Group, L.P.
The portfolio consists of 79 wind projects with 3,189 megawatts (MW) of capacity and 88 solar projects with 4,023 MW of capacity, including projects with a total in-service date of 2015, 2014 and 2012.
NextEra Energy Resources will enter into a 22-year operating agreement with the purchasers.