NextEra Energy, Inc. Agrees To sell Rhode Island Natural Gas-Fired Power Plant To Entergy Corporation's Subsidiary

NextEra Energy Resources, LLC, the competitive energy subsidiary of NextEra Energy, Inc. announced that two of its subsidiaries have entered into an agreement to sell their ownership interest in the 550-megawatt Rhode Island State Energy Center (RISEC), located in Johnston, R.I., to a subsidiary of Entergy Corporation for $346 million, subject to closing adjustments. A NextEra Energy Resources' affiliate will continue to operate RISEC for an initial period of one year under a service contract. The transaction is expected to close in late 2011, pending receipt of necessary regulatory approvals. The transaction is expected to result in net cash proceeds of approximately $340 million after estimated transaction costs and working capital and other adjustments. As previously announced, NextEra Energy Resources has entered into an agreement with an affiliate of LS Power to sell four gas-fired power plants for $1.05 billion, subject to working capital and other adjustments. Combined, these two transactions reflect a sales price of nearly $1.4 billion. NextEra Energy Resources expects net cash proceeds of approximately $825 million after the repayment of debt, transaction costs, and working capital and other adjustments. The sales are expected to be accretive to future years' earnings per share.