Kinder Morgan, Inc. (NYSE:KMI) entered into a definitive agreement to acquire Texas Natural Gas Pipeline Portfolio from NextEra Energy Partners, LP (NYSE:NEP) for approximately $1.8 billion on November 6, 2023. The closing of the sale, which is planned to occur in the first half of 2024, is subject to receipt of Hart-Scott-Rodino anti-trust approval, the effectiveness of certain contract amendments and customary closing conditions. Upon closing of the Texas natural gas pipeline portfolio sale, NextEra Energy Partners intends to use the net proceeds from the sale to: Pay off the outstanding Texas pipeline portfolio's project-related debt and associated interest rate swaps of approximately $425 million.

Complete the $1.1 billion buyout remaining under the NEP Renewables II CEPF by June 2025. Use the remaining proceeds to pay down a portion of the outstanding corporate revolver.