“As we previously shared, we expect strong double-digit growth in the second half of the year and adjusted EBITDA and cash available for distribution to support NextEra Energy Partners, LP distribution per unit growth expectations range for the full year 2023.”

In context

“se impacts of weaker wind resource. The adjusted EBITDA and cash available for distribution contribution from existing projects declined by approximately $99 million and $39 million respectively, primarily driven by a large swing in year-over-year wind resource. This quarter was the lowest-second quarter of wind resource on record over the past 30 years, while last year was the highest. New projects contributed approximately $49 million of adjusted EBITDA and $5 million of cash available for distribution. Second quarter results for adjusted EBITDA and cash available for distribution were positively impacted by the Incentive Distribution Rights Fee Suspension and provided approximately $38 million of benefit this quarter, partially offsetting the impact of poor wind resource performance. As we previously shared, we expect strong double-digit growth in the second half of the year and adjusted EBITDA and cash available for distribution to support NextEra Energy Partners, LP distribution per unit growth expectations range for the full year 2023. Additional details are shown on the accompanying slide. From a base of our fourth quarter 2022 distribution per common unit and an annualized rate of $3.25, we continue to see 12% to 15% growth per year and LP distributions per unit as being a reasonable range of expectations through at least 2026. However, as we previously shared with you, we expect to grow at or near the bottom end of that range. For 2023, we expect the annualized rate of the fourth quarter 2023 distribution that is payable in February of 2024 to be in a range of $3.64 to $3.74 per common unit. NextEra Energy Partners continue to expect run rate contributions for adjusted EBITDA and cash available for distribution and its forecasted portfolio at December 31, 2023 to be in the ranges of $2.2 billion to $2.42 billion an”