June 18, 2018
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NextEra to sell its oil-fired power plants in Maine

By Scott DiSavino, Reuters

NextEra Energy Resources said Tuesday it will sell its oil-fired power plants in Maine, which have a generating capacity of 796 megawatts.

The company decided to sell the plants to reduce its exposure to merchant pricing and recognized a charge of roughly $41 million, NextEra said in its first quarter earnings release.

The Maine plants include the company’s stake in the 822-megawatt Wyman power plant on Cousins Island in Yarmouth and the 18-megawatt Cape Gas Turbine in South Portland.

In March, NextEra sold 351 megawatts of hydropower assets in Maine and New Hampshire to a unit of Brookfield Renewable Energy Partners LP.

NextEra Energy Resources is a subsidiary of Juno Beach, Fla.-based NextEra Energy Inc.

BDN Business Editor Whit Richardson contributed to this report


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