NextEra to sell its oil-fired power plants in Maine

Tue Apr 30, 2013 12:57pm EDT
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By Scott DiSavino

April 30 (Reuters) - U.S. power company NextEra Energy Inc said on Tuesday its NextEra Energy Resources unit will sell its oil-fired power plants in Maine, which have a generating capacity of 796 megawatts (MW).

The company decided to sell the plants to reduce its exposure to merchant pricing and recognized a charge of roughly $41 million, NextEra said in its first quarter earnings release.

The Maine plants include the company's stake in the 822-MW Wyman plant and the 18-MW Cape Gas Turbine.

Last month, NextEra sold 351 MW of hydropower assets in Maine and New Hampshire to a unit of Brookfield Renewable Energy Partners LP.

NextEra also said it signed long-term power purchase agreements during the first quarter for 225 MW of new U.S. wind projects and 40 MW of solar projects.

NextEra said it sees the potential to invest $1 billion to $3 billion to add about 500 to 1,500 MW of U.S. wind assets through 2014 and about $1 billion to add up to 300 MW of solar power through 2016.

Nextera Energy Resources operates about 18,800 MW of generation, including about 10,100 MW of wind and over 300 MW of solar power.

At its Florida Power and Light (FPL) utility unit in Florida, NextEra said it completed the 1,200-MW Cape Canaveral natural gas-fired power plant on budget and ahead of schedule last week. The plant cost about $900 million to build.   Continued...