NextEra Sells Off Hydropower Assests for $760M

The owners of Seabrook Station nuclear power plant have reportedly sold their last remaining assets in hydroelectric power generation for $760 million.

NextEra Energy has announced on its website the sale of 351 megawatts worth of hydro-generating assets — amounting to 19 hydroelectric facilities and eight upstream storage reservoirs located in Maine and New Hampshire — to Brookfield Renewable Energy Partners, "a Canadian pure-play renewable power platform," according to the release.

Fool.com has also reported that Armando Pimentel, president and chief executive officer of NextEra, which operates Seabrook Station, had the following to say after his company and Brookfield first announced the agreement in late December:

"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."