NextEra Energy Inc. agreed to sell two natural gas-fired generators in Texas to an affiliate of Energy Future Holdings Corp. for $1.59 billion as it seeks to reduce its exposure to the competitive power business, Bloomberg News reported on Friday. Luminant will buy NextEra Energy Resources LLC’s La Frontera portfolio, which consists of the Forney and Lamar generating assets. Their combined generating capacity can power about 1.5 million homes. The sale ranks among the top 10 U.S. power deals this year, according to data compiled by Bloomberg. Utility owners have been divesting plants that sell power on competitive markets to focus on regulated operations where profit is more predictable. It comes also as Energy Future enters what may be the final phase of its reorganization, following 18 months in bankruptcy. The affiliate has already received orders from a bankruptcy court approving the purchase. The transaction is expected to close in the first quarter of 2016, pending approval, and the purchase price includes estimated working capital. NextEra Energy Resources is a subsidiary of Juno Beach, Florida-based NextEra Energy.
