NextEra Energy Partners LP has entered a definitive agreement to acquire Meade Pipeline Co. LLC in a transaction valued at approximately $1.37 billion, including roughly $90 million in future capital contributions through 2022, which are related to an expansion opportunity at the existing pipeline.
Meade Pipeline owns a 39.2-percent interest in the Central Penn Line, a 185- mile intrastate natural gas pipeline that is an integral part of a pipeline system regulated by FERC that provides the Marcellus natural gas producing region with access to large demand centers in the mid-Atlantic and Southeastern regions of the U.S. The pipeline has the capacity to transport and deliver up to approximately 1.7 Bcf of natural gas per day. The pipeline, which is backed by a minimum 14-year contract with an investment-grade-equivalent customer, is jointly owned by Transcontinental Gas Pipe Line Co., or Transco, which operates the pipeline as a segment of its larger Atlantic Sunrise project.
For more information, visit www.nexteraenergypartners.com.