NextEra Energy Partners to Divest its Natural Gas Pipeline Assets

SEATTLE (Oil Monster): Florida-based NextEra Energy Partners announced plans to divest its natural gas pipeline assets. The decision is part of the company’s strategy to swap natural gas pipelines for renewables and green hydrogen. This will help the company to increase its renewable energy investments.

Furthermore, the company plans to make investments of up to $20 billion in green hydrogen and renewable energy, thereby boosting green investments. The proposed investment amount equates to its combined net income over the past five years, noted John Ketchum, NextEra’s chair and chief executive. Next Era has already started to receive interest from prospective hydrogen customers, he noted.

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The company believes that right regulations could soon make green hydrogen a technology of choice for its customers and a significant driver of the company’s growth. The hydrogen plans are largely centred on solar generations and wind repowerings.

It must be noted that the company had recently entered into an agreement with CF Industries towards delivery of green hydrogen to its ammonia production facility. Also, a green hydrogen pilot project is currently under construction at NextEra’s Okeechobee clean energy centre in Florida, which is expected to come online later this year.