Concord New Energy agrees to sell two solar project companies for up to $29.98 million
NEE•Concord New Energy's Red River agreed to sell two solar project companies to a NextEra Energy-owned buyer for up to $29.98 million. The sale could generate an unaudited gain of about $27.97 million, with payments tied to project milestones through the second half of 2028.
1. Sale terms
Red River agreed on October 27, 2026, to sell its 100% stakes in Gail Mountain Solar and Grape Creek Solar to Uva Creek Solar Holdings. The buyer is owned by NextEra Energy.
2. Projects and payments
The companies are developing solar projects in Borden County, Texas, with anticipated capacities of 244 MW and 301 MW, respectively. Payments depend on project milestones; the first is expected before December 1, 2026, and the final installment in the second half of 2028. Proceeds are earmarked for general working capital.
