NRG Yield Inc fka NYLD

[Timothy Smith]

NRG Yield (NYSE:NYLD) agrees to acquire 75% of a portfolio of wind assets from NRG Energy (NYSE:NRG), consisting primarily of assets acquired by NRG from Edison Mission Energy in 2014, for $210M in cash plus $145M in assumed project debt and ~$97M in tax equity.

The wind assets represent 814 MW of total operating capacity, which NYLD expects to deliver ~$41M of adjusted EBITDA and $21M of cash available for distribution on a run-rate basis.

NYLD also reaffirms Q3 and FY 2015 guidance, and says it continues to have the ability to deliver a target 15% dividend/share growth through 2018.