Divestiture • Utilities

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 XPLR Infrastructure

Acquisition Context
  • 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.

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M&A Deal Summary

Date January 18, 2018
Target NextEra Energy Partners - 223 MW Wind Power Portfolio
Sector Utilities
Buyer(s) GlidePath Power Solutions
Sellers(s) XPLR Infrastructure
Deal Type Divestiture

Target Company

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 Overview 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. GlidePath has successfully developed multiple battery storage projects 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 Context for Buyer #
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 Profile 1

SELLER

XPLR Infrastructure

Juno Beach, Florida, United States

Category Company
Founded 2014
Sector Utilities
Revenue 1.2B USD (2024)
DESCRIPTION

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


Deal Context for Seller #
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' 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. 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. NextEra Energy Partners' Canadian Renewable Portfolio is based in Juno Beach, Florida.

Sell $689M