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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 ~~

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.

Source:  By Doreen Hemlock | Sun Sentinel | June 19, 2014 | www.sun-sentinel.com

This article is the work of the source indicated. Any opinions expressed in it are not necessarily those of National Wind Watch.

The copyright of this article resides with the author or publisher indicated. As part of its noncommercial effort to present the environmental, social, scientific, and economic issues of large-scale wind power development to a global audience seeking such information, National Wind Watch endeavors to observe “fair use” as provided for in section 107 of U.S. Copyright Law and similar “fair dealing” provisions of the copyright laws of other nations. Send requests to excerpt, general inquiries, and comments via e-mail.

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