NextEra Energy Partners buys 25% stake in 2019 STX Midstream convertible equity

NextEra Energy Partners announced that during the first quarter of 2023, it exercised its option to purchase 25% of the outstanding minority equity interest in its 2019 STX Midstream convertible equity portfolio financing from a fund managed by EIG, an institutional investor to the global energy sector, subject to post-closing covenants. NextEra Energy Partners provided total cash consideration of approximately $200M for the equity interest, which exceeds the minimum buyout that was necessary to have occurred prior to June 2023.