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NextEra Energy completes acquisition of the ownership interests in two natural gas power plants

 

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 NextEra Energy, Inc. (NYSE: NEE) has completed the previously announced acquisition of Southern Company's (NYSE: SO) indirect ownership interests in the Stanton and Oleander natural gas power plants in Florida.

"We are pleased to complete this transaction and add these high-quality assets to the NextEra Energy Resources portfolio," said Jim Robo, chairman and chief executive officer of NextEra Energy. "We have now successfully closed two of the three transactions we announced with Southern Company earlier this year, and we are still targeting completing the Gulf Power transaction in the first quarter of 2019."

With the completion of this transaction, NextEra Energy has acquired a 100 percent ownership interest in Plant Oleander, a dual-fueled, simple-cycle combustion turbine electric generation plant located near Cocoa, Florida, with a generating capacity of approximately 791 megawatts (MW) and power purchase agreements with the Florida Municipal Power Agency and Seminole Electric Cooperative. NextEra Energy has also acquired a 100 percent interest in a company owning a 65 percent ownership interest in Stanton Energy Center Unit A, a dual-fueled, combined-cycle electric generating unit, with a generating capacity of approximately 660 MW, located near Orlando, Florida. The 65 percent interest is contracted with the Orlando Utilities Commission and Florida Municipal Power Agency.

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