Nextera Energy Partners rises on plans to focus solely on renewables

NextEra Energy

08/05/2023 13:54

** Shares of Nextera Energy Partners LP  NEP.N , a
limited-partnership formed by NextEra Energy Inc  NEE.N , rise
5.3% to $55.7 premarket
    ** Co plans to capitalize on clean energy transition and
concentrate on growing its renewable energy portfolio
    ** As part of its plan, NEP will sell natural gas pipeline
assets, and suspend incentive distribution rights fees to
NextEra Energy through 2026
    ** Actions will increase renewable energy investments and
help create leading 100% renewables pure-play investment
opportunity for unitholders - CEO John Ketchum
    ** Upon sale completion, NEP is expected to achieve real
zero carbon emissions in 2025
    ** Up to last close, stock had fallen ~25% YTD

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com;))