NextEra Energy Resources agrees to sell hydro generating assets to a subsidiary of Brookfield Renewable Energy Partners, L.P.

Fri Dec 21, 2012 7:20pm EST

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JUNO BEACH, Fla.,  Dec. 21, 2012  /PRNewswire-FirstCall/ -- NextEra Energy
Resources, LLC, the competitive energy subsidiary of NextEra Energy, Inc. (NYSE:
NEE), today announced that one of its subsidiaries has entered into an agreement
to sell all of its equity interests in White Pine Hydro Investments, LLC, which
indirectly owns 351 megawatts (MW) of hydro generation related assets in  Maine 
and  New Hampshire  through FPL Energy Maine Hydro, LLC (Maine Hydro).  

(Logo:  http://photos.prnewswire.com/prnh/20110421/FL87524LOGO  )

The sale is based on an enterprise value of approximately  $760 million, subject
to typical closing adjustments and includes the existing  $700 million  of
non-recourse project debt.

The Maine Hydro assets consist of a portfolio of hydroelectric generation plants
and equity interests in eight storage reservoirs in  Maine  and  New Hampshire.
The hydro assets are located primarily on three major river systems, which are
the Kennebec River system, the Androscoggin River system, and the Saco River
system, with one project located on the Presumpscot River system.  

"While this is an attractive portfolio in many respects, this transaction
enables us to further optimize our power generation portfolio and concentrate
our resources on areas with greater growth potential for our business," said 
Armando Pimentel, president and CEO of NextEra Energy Resources.

The transaction is expected to result in a gain upon execution, but it is not
expected to have a material impact on NextEra Energy Resource's financial
position or ongoing future financial results. The transaction is expected to
close in the first quarter of 2013, pending receipt of the necessary regulatory
approvals.

Chadbourne & Parke served as outside legal counsel for NextEra Energy Resources
in this transaction.

About NextEra Energy Resources

NextEra Energy Resources, LLC (together with affiliated entities, "NextEra
Energy Resources"), is a clean energy leader and is one of the largest
competitive energy suppliers in  North America, operating in 22 states and 
Canada  as of year-end 2011. NextEra Energy Resources is the largest generator
in  the United States  of renewable energy from the wind and sun, owning and
operating approximately 8,569 megawatts of wind and 158 megawatts of solar power
generation at the end of 2011. The business operates clean, emissions-free
nuclear power generation facilities in  New Hampshire,  Iowa  and  Wisconsin  as
part of the NextEra Energy nuclear fleet, which has the third largest number of
commercial nuclear power units in  the United States. NextEra Energy Resources
is a subsidiary of  Juno Beach, Fla.-based NextEra Energy, Inc. (NYSE: NEE). For
more information, visit  www.NextEraEnergyResources.com.

Cautionary Statements and Risk Factors That May Affect Future Results

This press release contains "forward-looking statements" within the meaning of
the safe harbor provisions of the Private Securities Litigation Reform Act of
1995. Forward-looking statements are not statements of historical facts, but
instead represent the current expectations of NextEra Energy, Inc. (NextEra
Energy) and  Florida Power  & Light Company (FPL) regarding future operating
results and other future events, many of which, by their nature, are inherently
uncertain and outside of NextEra Energy's and FPL's control.  In some cases, you
can identify the forward-looking statements by words or phrases such as "will,"
"will likely result," "expect," "anticipate," "believe," "intend," "plan,"
"seek," "aim," "potential," "projection," "forecast," "predict," "goals,"
"target," "outlook," "should," "would" or similar words or expressions. You
should not place undue reliance on these forward-looking statements, which are
not a guarantee of future performance. The future results of NextEra Energy and
FPL are subject to risks and uncertainties that could cause their actual results
to differ materially from those expressed or implied in the forward-looking
statements. These risks and uncertainties include, but are not limited to, the
following: effects of extensive regulation of NextEra Energy's and FPL's
business operations; inability of NextEra Energy and FPL to recover in a timely
manner any significant amount of costs, a return on certain assets or an
appropriate return on capital through base rates, cost recovery clauses, other
regulatory mechanisms or otherwise; impact of political, regulatory and economic
factors on regulatory decisions important to NextEra Energy and FPL; risks of
disallowance of cost recovery by FPL based on a finding of imprudent use of
derivative instruments; effect of any reductions to or elimination of
governmental incentives that support renewable energy projects of NextEra Energy
Resources, LLC and its affiliated entities (NextEra Energy Resources); impact of
new or revised laws, regulations or interpretations or other regulatory
initiatives on NextEra Energy and FPL; effect on NextEra Energy and FPL of
potential regulatory action to broaden the scope of regulation of OTC financial
derivatives and to apply such regulation to NextEra Energy and FPL; capital
expenditures, increased cost of operations and exposure to liabilities
attributable to environmental laws and regulations applicable to NextEra Energy
and FPL; effects on NextEra Energy and FPL of federal or state laws or
regulations mandating new or additional limits on the production of greenhouse
gas emissions; exposure of NextEra Energy and FPL to significant and increasing
compliance costs and substantial monetary penalties and other sanctions as a
result of extensive federal regulation of their operations; effect on NextEra
Energy and FPL of changes in tax laws and in judgments and estimates used to
determine tax-related asset and liability amounts; impact on NextEra Energy and
FPL of adverse results of litigation; effect on NextEra Energy and FPL of
failure to proceed with projects under development or inability to complete the
construction of (or capital improvements to) electric generation, transmission
and distribution facilities, gas infrastructure facilities or other facilities
on schedule or within budget; impact on development and operating activities of
NextEra Energy and FPL resulting from risks related to project siting,
financing, construction, permitting, governmental approvals and the negotiation
of project development agreements; risks involved in the operation and
maintenance of electric generation, transmission and distribution facilities,
gas infrastructure facilities and other facilities; effect on NextEra Energy and
FPL of a lack of growth or slower growth in the number of customers or in
customer usage; impact on NextEra Energy and FPL of severe weather and other
weather conditions; risks associated with threats of terrorism and catastrophic
events that could result from terrorism, cyber attacks or other attempts to
disrupt NextEra Energy's and FPL's business or the businesses of third parties;
risk of lack of availability of adequate insurance coverage for protection of
NextEra Energy and FPL against significant losses; risk to NextEra Energy
Resources of increased operating costs resulting from unfavorable supply costs
necessary to provide NextEra Energy Resources' full energy and capacity
requirement services; inability or failure by NextEra Energy Resources to hedge
effectively its assets or positions against changes in commodity prices,
volumes, interest rates, counterparty credit risk or other risk measures;
potential volatility of NextEra Energy's results of operations caused by sales
of power on the spot market or on a short-term contractual basis; effect of
reductions in the liquidity of energy markets on NextEra Energy's ability to
manage operational risks; effectiveness of NextEra Energy's and FPL's hedging
and trading procedures and associated risk management tools to protect against
significant losses; impact of unavailability or disruption of power transmission
or commodity transportation facilities on sale and delivery of power or natural
gas by FPL and NextEra Energy Resources; exposure of NextEra Energy and FPL to
credit and performance risk from customers, hedging counterparties and vendors;
risks to NextEra Energy and FPL of failure of counterparties to perform under
derivative contracts or of requirement for NextEra Energy and FPL to post margin
cash collateral under derivative contracts; failure or breach of NextEra
Energy's and FPL's information technology systems; risks to NextEra Energy and
FPL's retail businesses of compromise of sensitive customer data; risks to
NextEra Energy and FPL of volatility in the market values of derivative
instruments and limited liquidity in OTC markets; impact of negative publicity;
inability of NextEra Energy and FPL to maintain, negotiate or renegotiate
acceptable franchise agreements with municipalities and counties in  Florida;
increasing costs of health care plans; lack of a qualified workforce or the loss
or retirement of key employees; occurrence of work strikes or stoppages and
increasing personnel costs; NextEra Energy's ability to successfully identify,
complete and integrate acquisitions; environmental, health and financial risks
associated with NextEra Energy's and FPL's ownership of nuclear generation
facilities; liability of NextEra Energy and FPL for significant retrospective
assessments and/or retrospective insurance premiums in the event of an incident
at certain nuclear generation facilities; increased operating and capital
expenditures at nuclear generation facilities of NextEra Energy or FPL resulting
from orders or new regulations of the Nuclear Regulatory Commission; inability
to operate any of NextEra Energy Resources' or FPL's owned nuclear generation
units through the end of their respective operating licenses; liability of
NextEra Energy and FPL for increased nuclear licensing or compliance costs
resulting from hazards posed to their owned nuclear generation facilities; risks
associated with outages of NextEra Energy's and FPL's owned nuclear units;
effect of disruptions, uncertainty or volatility in the credit and capital
markets on NextEra Energy's and FPL's ability to fund their liquidity and
capital needs and meet their growth objectives; inability of NextEra Energy, FPL
and NextEra Energy Capital Holdings, Inc. to maintain their current credit
ratings; risk of impairment of NextEra Energy's and FPL's liquidity from
inability of creditors to fund their credit commitments or to maintain their
current credit ratings; poor market performance and other economic factors that
could affect NextEra Energy's and FPL's defined benefit pension plan's funded
status; poor market performance and other risks to the asset values of NextEra
Energy's and FPL's nuclear decommissioning funds; changes in market value and
other risks to certain of NextEra Energy's investments; effect of inability of
NextEra Energy subsidiaries to upstream dividends or repay funds to NextEra
Energy or of NextEra Energy's performance under guarantees of subsidiary
obligations on NextEra Energy's ability to meet its financial obligations and to
pay dividends on its common stock; and effect of disruptions, uncertainty or
volatility in the credit and capital markets of the market price of NextEra
Energy's common stock. NextEra Energy and FPL discuss these and other risks and
uncertainties in their annual report on Form 10-K for the year ended  December
31, 2011  and other SEC filings, and this press release should be read in
conjunction with such SEC filings made through the date of this press release.
The forward-looking statements made in this press release are made only as of
the date of this press release and NextEra Energy and FPL undertake no
obligation to update any forward-looking statements.

SOURCE  NextEra Energy Resources, LLC


NextEra Energy Resources, LLC, Media Line: +1-888-867-3050
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