NextEra hits new record on plans to form yieldco for renewable power plants

|About: NextEra Energy, Inc. (NEE)|By:, SA News Editor

NextEra Energy (NEE) shares rose to an all-time high today after reporting better than expected Q1 earnings and announcing it had filed to form a separate yield company for its renewable power plants.

NEE filed plans with the SEC for a proposed IPO of the yieldco, CEO Jim Robo said today during its earnings call.

Yieldcos - existing power plants and projects are bundled into new subsidiaries, and their shares are sold and traded on stock exchanges - are rising in popularity among energy and renewable energy companies, with several said to be in the works.