NextEra Energy completes acquisition of the ownership interests in two natural gas power plants from Southern Company

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Dec 04, 2018, 08:55 ET

JUNO BEACH, Fla., Dec. 4, 2018 /PRNewswire/ -- NextEra Energy, Inc. (NYSE: NEE) has completed the previously announced acquisition of Southern Company's (NYSE: SO) indirect ownership interests in the Stanton and Oleander natural gas power plants in Florida.

"We are pleased to complete this transaction and add these high-quality assets to the NextEra Energy Resources portfolio," said Jim Robo, chairman and chief executive officer of NextEra Energy. "We have now successfully closed two of the three transactions we announced with Southern Company earlier this year, and we are still targeting completing the Gulf Power transaction in the first quarter of 2019."

With the completion of this transaction, NextEra Energy has acquired a 100 percent ownership interest in Plant Oleander, a dual-fueled, simple-cycle combustion turbine electric generation plant located near Cocoa, Florida, with a generating capacity of approximately 791 megawatts (MW) and power purchase agreements with the Florida Municipal Power Agency and Seminole Electric Cooperative. NextEra Energy has also acquired a 100 percent interest in a company owning a 65 percent ownership interest in Stanton Energy Center Unit A, a dual-fueled, combined-cycle electric generating unit, with a generating capacity of approximately 660 MW, located near Orlando, Florida. The 65 percent interest is contracted with the Orlando Utilities Commission and Florida Municipal Power Agency.

NextEra Energy, Inc.
NextEra Energy, Inc. (NYSE: NEE) is a leading clean energy company with consolidated revenues of approximately $17.2 billion, operates approximately 46,790 megawatts of net generating capacity and employs approximately 14,000 people in 33 states and Canada as of year-end 2017. Headquartered in Juno Beach, Florida, NextEra Energy's principal subsidiaries are Florida Power & Light Company, which serves approximately 5 million customer accounts in Florida and is one of the largest rate-regulated electric utilities in the United States, and NextEra Energy Resources, LLC, which, together with its affiliated entities, is the world's largest generator of renewable energy from the wind and sun and a world leader in battery storage. Through its subsidiaries, NextEra Energy generates clean, emissions-free electricity from eight commercial nuclear power units in Florida, New Hampshire, Iowa and Wisconsin. A Fortune 200 company and included in the S&P 100 index, NextEra Energy has been recognized often by third parties for its efforts in sustainability, corporate responsibility, ethics and compliance, and diversity. NextEra Energy is ranked No. 1 in the electric and gas utilities industry on Fortune's 2018 list of "World's Most Admired Companies" and ranked among the top 25 on Fortune's 2018 list of companies that "Change the World." For more information about NextEra Energy companies, visit these websites: www.NextEraEnergy.com, www.FPL.com, www.NextEraEnergyResources.com.