US-based electric power generator NextEra Energy has concluded the sale of all of its equity interests in White Pine Hydro Investments.
The assets were sold to a subsidiary of Brookfield Renewable Energy Partners for a value of approximately $760m and included an existing $700m of non-recourse project debt.
White Pine Hydro indirectly owns 351MW of hydro energy generation assets in Maine and New Hampshire through FPL Energy Maine Hydro (Maine Hydro).
Maine Hydro in turn holds a portfolio of hydro electric facilities and stake holding in eight storage reservoirs in Maine and New Hampshire.
These assets are primarily situated on three major river systems, namely the Kennebec River system, the Androscoggin River system and the Saco River system.
One of the projects is situated on the Presumpscot River system.
NextEra Energy is a wholesale producer of electric power in the US and totally owns more than 18,100MW of installed capacity in 24 states of US and Canada.