NEP is a growth-oriented limited partnership formed to
acquire, manage and own contracted clean energy projects with stable long-term
cash flows. At December 31, 2023, NEP owned a controlling, non-economic general
partner interest and a 48.6% limited partner interest in NEP OpCo. Through NEP
OpCo, NEP owns a portfolio of contracted renewable generation assets consisting
of wind, solar and solar-plus-storage projects, as well as contracted natural
gas pipeline assets.
NEP expects to take advantage of trends in the North
American energy industry, including the addition of clean energy projects as
aging or uneconomic generation facilities are phased out, increased demand from
utilities for renewable energy to meet state RPS requirements and improving
competitiveness of energy generated from wind and solar projects relative to
energy generated using other fuels. NEP plans to focus on high-quality,
long-lived projects operating under long-term contracts that are expected to
produce stable long-term cash flows. NEP believes its cash flow profile,
geographic, technological and resource diversity, operational excellence and
cost-efficient business model provide NEP with a significant competitive
advantage and enable NEP to execute its business strategy
NEP Credit Ratings Summary