“Through the period of our current financial expectations, that would leave a small equity buyout of roughly $147 million on the genesis holding convertible equity portfolio financing in 2026.”

In context

“% growth rate in a way that is sustainable and in the best interest of unit holders over the long term. By reducing the growth rate to 6%, NextEra Energy Partners LP distribution rate is now comparable to its peers, and the partnership does not expect to require growth equity until 2027. In order to meet these objectives, the partnership is focused on first executing against its transition plan. As a reminder, the transition plans include successfully entering into agreement to sell the Texas natural gas pipeline portfolio and natural gas pipeline assets this year and in 2025, respectively. Doing so will enable the partnership to address the equity buyouts associated with the FPL's midstream, the 2019 NEP pipelines and NEP renewables to convertible equity portfolio financing through 2025. Through the period of our current financial expectations, that would leave a small equity buyout of roughly $147 million on the genesis holding convertible equity portfolio financing in 2026. The partnership is continuing its process to sell the Texas pipeline portfolio and expects to have an update on or before our fourth quarter call in January. NextEra Energy Partners is focused on executing against its growth plan for unit holders. That plan involves organic growth, specifically repowering of approximately 1.3 gigawatts of wind projects, as well as acquiring assets from energy resources or third parties at favorable yields. Importantly, NextEra Energy Partners does not expect to need an acquisition in 2024 to meet the 6% growth in distributions per unit target. Today, we're announcing plans to repower approximately 740 megawatts of wind facilities through 2026, which require the final approval of the customer's [ph] board of directors, which is expected to be received in t”