NextEra Energy Partners to acquire Meade Pipeline for $1.4bn.

NextEra Energy Partners, a Fortune 200 energy company, agreed to acquire Meade Pipeline, which owns a 39.2% interest in the Central Penn Line, a 185-mile intrastate natural gas pipeline that is an integral part of a pipeline system regulated by the Federal Energy Regulatory Commission, for $1.4bn. "Meade Pipeline is a very attractive acquisition for NextEra Energy Partners, and is expected to yield a double-digit return to NextEra Energy Partners' limited partner unitholders and generate a cash available for distribution yield of roughly 14%. This is NextEra Energy Partners' second third-party acquisition, which helps extend the partnership's best-in-class long-term growth visibility and further strengthen its investor value proposition. This transaction, combined with the incremental cash available for distribution generated by our previously announced repowering projects and the purchase of the outstanding Genesis debt, is expected to support our long-term growth objectives without the need for additional asset acquisitions until 2021. NextEra Energy Partners remains as well-positioned as ever to deliver on its long-term growth objectives and continue its track record of delivering value to limited partner unitholders." Jim Robo, chairman and chief executive officer of NextEra Energy Partners.