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New Fortress Energy’s $1.055 Billion Jamaica Sale — Can Deleveraging Reset The Story?

NextEra Energy Partners, LP reported first quarter 2025 results that delivered core earnings consistent with prior quarters and management expectations. Core earnings demonstrated stability with figures around $110 million to $177 million in recent quarters, and the outlook anticipates acceleration in the second half of 2025 driven by new asset contributions, particularly from Brazil. The reported adjusted EBITDA for the quarter was approximately $82 million, slightly below initial forecasts due to the absence of one-time gains present in previous periods. However, one-time gains remain a key component of the full-year EBITDA and gains estimate, now raised to between $1.25 billion and $1.5 billion, largely supported by the recent $1.055 billion sale of the Jamaica asset generating a net $778 million in proceeds and a $430 million book gain.