M&A Deal Summary

GlidePath Power Solutions Acquires NextEra Energy Partners - 223 MW Wind Power Portfolio

On January 18, 2018, GlidePath Power Solutions acquired utilities company NextEra Energy Partners - 223 MW Wind Power Portfolio from NextEra Energy Partners

Acquisition Highlights
  • This is GlidePath Power Solutions’ 1st transaction in the Utilities sector.
  • This is GlidePath Power Solutions’ 1st transaction in the United States.
  • This is GlidePath Power Solutions’ 1st transaction in Florida.

M&A Deal Summary
Date 2018-01-18
Target NextEra Energy Partners - 223 MW Wind Power Portfolio
Sector Utilities
Buyer(s) GlidePath Power Solutions
Sellers(s) NextEra Energy Partners
Deal Type Divestiture

Target

NextEra Energy Partners - 223 MW Wind Power Portfolio

Juno Beach, Florida, United States
NextEra Energy Partners LP - 223 MW Wind Power Portfolio consists of six operating wind farms, varying in size from 9 to 66 MW. The projects are located in Pennsylvania, West Virginia and California, and are focused in markets which have only modest volumes of installed wind capacity.

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Buyer(S) 1

Buyer

GlidePath Power Solutions

Chicago, Illinois, United States
Category Company
Sector Energy Services and Equipment
DESCRIPTION

GlidePath Power Solutions is a developer of distributed power solutions spanning multiple technologies and US power markets. Led by a team of power industry veterans, GlidePath has successfully developed multiple battery storage projects in the US and is actively progressing a project development portfolio exceeding 600 MW of distributed power capacity featuring various low-carbon power technologies. GlidePath Power is based in Chicago, Illinois.

DEAL STATS #
Overall 1 of 1
Sector (Utilities) 1 of 1
Type (Divestiture) 1 of 1
State (Florida) 1 of 1
Country (United States) 1 of 1
Year (2018) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-25 GlidePath Power Solutions - 36.6 megawatt solar facility

Inalåhan, Guam

GlidePath Power Solutions' 36.6 megawatts (MW) solar facility commenced commercial operations in October 2015 and supplies renewable energy to the Guam Power Authority. GlidePath Power Solutions' 36.6 megawatt (MW) solar facility is based in Inalåhan, Guam.

Sell -

Seller(S) 1

SELLER

NextEra Energy Partners

Juno Beach, Florida, United States
Category Company
Founded 2014
Sector Utilities
Revenue 1.1B USD (2023)
DESCRIPTION

NextEra Energy Partners acquires, manages, and owns contracted clean energy projects with stable, long-term cash flows. NextEra Energy Partners was founded in 2014 and is based in Juno Beach, Florida.

DEAL STATS #
Overall 1 of 2
Sector (Utilities) 1 of 1
Type (Divestiture) 1 of 2
State (Florida) 1 of 2
Country (United States) 1 of 2
Year (2018) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-27 Shafter Solar

Shafter, California, United States

Shafter Solar LLC owns a 20 megawatt solar generating facility.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-02 NextEra Energy Partners - Canadian Renewable Portfolio

Juno Beach, Florida, United States

NextEra Energy Partners LP - Canadian Renewable Portfolio includes the sale of six fully contracted wind and solar assets, with an average contract life of approximately 16 years and 10-year average CAFD of $38.4 million USD. Located in Ontario, the portfolio has a combined total generating capacity of approximately 396 megawatts (MW) and consists of: Bluewater, a 59.9-MW wind generating facility, ; Conestogo, a 22.9-MW wind generating facility, Jericho, a 149-MW wind generating facility, Summerhaven, a 124.4-MW wind generating facility, Moore, a 20-MW solar energy generating facility and Sombra, a 20-MW solar energy generating facility.

Sell $689M
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