JUNO BEACH, Fla., April 4, 2016 /PRNewswire/ -- NextEra Energy Resources, LLC, the competitive energy subsidiary of NextEra Energy, Inc. (NYSE: NEE), today announced that one of its subsidiaries, La Frontera Ventures LLC, has completed the sale of its ownership interest in its Forney and Lamar generating assets to an affiliate of Energy Future Holdings (EFH). The aggregate purchase price is approximately $1.55 billion, including estimated working capital, subject to customary closing adjustments. In the second quarter of 2016, NextEra Energy Resources expects the sale to result in net proceeds of approximately $456 million and a gain on disposition, which will be excluded from adjusted earnings.
The power plants sold to the EFH affiliate include the 1,912-megawatt (MW) Forney Energy Center, a natural gas-fired facility located in Forney, Texas, that began commercial operation in 2003 and the 1,076-MW Lamar Energy Center, a natural gas-fired facility located in Paris, Texas, that began commercial operation in 2000.
A NextEra Energy Resources' affiliate will continue to operate both of the facilities included in the sale for an initial period of up to one year.
About NextEra Energy Resources
NextEra Energy Resources, LLC (together with its affiliated entities, "NextEra Energy Resources"), is a clean energy leader and is one of the largest wholesale generators of electric power in the U.S., with approximately 18,260 megawatts of generating capacity, which includes megawatts associated with noncontrolling interests related to NextEra Energy Partners, LP (NYSE: NEP), primarily in 25 states and Canada as of April 2016. NextEra Energy Resources, together with its affiliated entities, is the world's largest generator of renewable energy from the wind and sun. The business operates clean, emissions-free nuclear power generation facilities in New Hampshire, Iowa and Wisconsin as part of the NextEra Energy nuclear fleet, which is one of the largest in the United States. NextEra Energy Resources, LLC is a subsidiary of Juno Beach, Fla.-based NextEra Energy, Inc. (NYSE: NEE). For more information, visit www.NextEraEnergyResources.com.
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SOURCE NextEra Energy Resources, LLC