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NextEra wraps sale-leaseback deal for 150-MW Ga. solar project

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Essential Energy Insights - January 2021


NextEra wraps sale-leaseback deal for 150-MW Ga. solar project

NextEra Energy Resources LLC completed a sale-leaseback transaction for the 150-MW Quitman Solar Center in Georgia.

Under the deal, Brooks County Development Authority of Georgia agreed to issue taxable industrial development revenue bonds to acquire, build and install the solar project and lease it back to the NextEra Energy Inc. subsidiary for a tax abatement.

The solar project will sell its output to Southern Co. subsidiary Georgia Power Co. under a 30-year power contract.

The Federal Energy Regulatory Commission approved the transaction Nov. 25, 2019. (FERC docket EC19-141)