Toronto-based
Brookfield Renewable Partners (TSX:BEP.U)(NYSE:BEP) is set to sell its wind power assets for a total of $1.4 billion in two isolated deals. The two concerned companies are Florida-based
NextEra Energy Partners LP and
Orsted – a Denmark-based multinational power company.
These two companies are shelling out US$733 million and US$677 million, respectively, in order to build up their renewable asset portfolios.
Here’s what I think about these deals.
Asset divestitures part of the plan?
NextEra is on its course to acquire Brookfield’s three wind farms in California and two wind farms in New Hampshire. The company expects to generate a combined 391 megawatts of renewable power as a result of this asset acquisition. On the other hand, Orsted is acquiring Brookfield’s onshore wind power ventures in the United Kingdom and Ireland. Accordingly, Orsted will be taking over nearly 390 megawatts of renewable power production in the process.