NextEra to Sell Interest in Marcus Hook Assets
07.29.16
This is only gets display when printing
The Firm is representing NextEra Energy Resources, LLC, the energy subsidiary of NextEra Energy, Inc. (NYSE: NEE), in connection with the $760 million sale by one of its subsidiaries of its ownership interest in the Marcus Hook generating assets to an investment affiliate of Starwood Energy Group Global, LLC. The transaction includes the 790-megawatt combined-cycle Marcus Hook Energy Center and the 50-megawatt simple-cycle Marcus Hook 50 Energy Center, both of which are natural gas-fired power plants located primarily in Marcus Hook, Pennsylvania. The transaction is expected to close in the fourth quarter of 2016, pending the receipt of necessary regulatory approvals and satisfaction of other customary closing conditions.
The Simpson Thacher Team includes Brian Chisling, Phong Quan and Christian Witzke (M&A); Brian Steinhardt (Credit); Erik Quarfordt and Leanne Welds (Real Estate); David Rubinsky (ECEB); and Drew Purcell (Tax). Summer Associate Stephanie Brenner provided valuable assistance.