Tue, May 24, 6:45 PM
- NextEra Energy’s (NYSE:NEE) proposed $4.3B takeover of Hawaiian Electric Industries (NYSE:HE) looks increasingly less likely, as the company gets a new chance to buy the largest power distributor in Texas, Bloomberg reports.
- Analysts say this month’s collapse of a deal for the Oncor Electric unit of Energy Future Holdings may prompt NEE, North America’s largest generator of wind and solar power, to dump the Hawaii deal for a second pass at Oncor.
- Oncor’s power system is “a great strategic fit” for NEE, which can afford to walk away from "the uphill battle in Hawaii,” says Guggenheim Securities analyst Shahriar Pourreza; opponents have questioned NEE’s commitment to Hawaii’s goal of 100% renewable power by 2045 and dislike ceding control to the Florida-based company.
- NEE has said it could exit the HE deal after June 3 by paying ~$95M.
Mon, Feb. 22, 5:56 PM
- NextEra Energy Partners (NEE, NEP) agrees to acquire the Seiling I & II Wind Energy Centers, a combined 299.2 MW wind generation site in Oklahoma, for $323M plus the assumption of ~$200M in tax equity financing.
- NEP says the acquisition will expand its portfolio of contracted renewable energy projects to 2,509 MW.
- To fund the deal, NEP says it will launch an offering of 9.7M common units, with an underwriters option to purchase up to an additional 1.455M.
Nov. 27, 2015, 9:35 AM
- NextEra Energy's (NEE +0.2%) renewable energy unit agrees to sell its interest in two natural gas-fired power generation plants to a unit of Energy Future Holdings for $1.59B, including working capital.
- Energy Future has received approval from the bankruptcy court for the deal and the funding of it through its debtor-in-possession credit facility.
- NEE says its La Frontera Ventures unit will continue to operate the facilities in Texas for an initial period of up to one year.
Aug. 3, 2015, 8:57 AM
- NextEra Energy (NYSE:NEE) reports better than expected Q2 earnings and revenues, and raises its long-term earnings forecast.
- NEE reaffirms its 2015 EPS guidance of $5.40-$5.70 vs $5.63 analyst consensus estimate, but says it now expects 2016 EPS of $5.85-$6.35, ahead of its previous forecast of $5.75-$6.25; it foresees EPS of $6.60-$7.10 in 2018.
- NEE says profit at its Florida Power & Light unit rose to $435M from $423M a year ago, while profit at NextEra Energy Resources grew to $273M from $81M a year ago.
- Meanwhile, NextEra Energy Partners (NYSE:NEP), which also released Q2 results, agrees to acquire privately-held NET Midstream in a $2.1B deal, which will add seven natural gas pipelines in Texas to its portfolio.
Dec. 3, 2014, 5:13 PM
- NextEra Energy (NYSE:NEE) and Hawaiian Electric (NYSE:HE) agree to merge in a deal valued at $4.3B including the assumption of $1.7B in HE debt.
- HE also plans to spin off its ASB Hawaii banking subsidiary to HEI shareholders and establish it as an independent publicly traded company.
- NEE says the deal expands its regulated holdings and further balances its earnings mix, and is expected to be neutral to EPS for NEE shareholders in the first full year post-close and accretive thereafter.
- The total value to HEI shareholders is estimated at $3.5B, or ~$33.50/share.
- HE +11.4% AH.
Sep. 25, 2014, 2:29 PM
- Berkshire Hathaway (BRK.A, BRK.B) and CenterPoint Energy (NYSE:CP) are among 10 companies that signed confidentiality agreements to explore bids for Energy Future's Oncor electricity distributor, Bloomberg reports.
- NextEra Energy (NYSE:NEE), which helped prompt the auction with a takeover bid this year valuing Oncor at more than $17.5B, also signed a non-disclosure agreement letting it conduct due diligence.
- The bankrupt Energy Future's profitable Oncor business operates the largest distribution and transmission business in Texas and delivers electricity to more than 3M homes and businesses.
Oct. 24, 2011, 8:48 AM
NextEra Energy, Inc. operates as an investment holding company with interests in generating and distributing electricity. The company through its subsidiaries provides retail and wholesale electric services to customers and owns generation, transmission and distribution facilities to support its... More
Industry: Electric Utilities
Country: United States
Other News & PR