Kinder Morgan to Purchase NextEra Energy Partners’ Texas Pipeline For $1.8 Billion

Kinder Morgan will purchase NextEra Energy Partners’ Texas natural gas line portfolio for $1.815 billion. Kinder Morgan, an energy infrastructure company, said the deal would be funded with cash on hand and short-term debt, though the it is expected to be balance sheet neutral for the long term. NextEra, a limited partnership created by NextEra Energy to manage clean energy projects, said the proceeds would be used to pay off debt associated with the Texas pipeline portfolio and pay down part of its revolving facility.