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NextEra Energy selling stock in its sun-wind spinoff
Credit: By Doreen Hemlock | Sun Sentinel | June 19, 2014 | www.sun-sentinel.com ~~
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Translate: FROM English | TO English
The parent company of Florida Power & Light Co. is starting to sell shares in its new spinoff that will own and operate big sun- and wind-energy projects.
Juno Beach-based NextEra Energy Inc. is offering the public 16.25 million common units in the new NextEra Energy Partners. The price is expected to be between $19 to $21 per share – likely reaping about $320 million from the public offering.
Stock in the spinoff will trade on the New York Stock Exchange under the symbol NEP.
Some money from the offering may be used for the spinoff to buy more wind and sun energy projects, a statement said Thursday.
NextEra Energy has said it is developing the spinoff – known as a “yield company” or “yieldco” – to appeal to investors focused on sun and wind farms and expand its renewable-energy business faster.
NextEra Energy already is the largest generator of wind and sun energy in North America.
The new stock offering will be made only through a prospectus. The registration statement has been filed with the Securities and Exchange Commission and can be accessed at sec.gov.
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