Arm Monument Intermediate Holdings LLC, an affiliate of ARM Energy Holdings, has purchased the Monument Pipeline LP from NextEraEnergy Partners LP.
The Monument Pipeline is an approximately 156-mile, 16-inch pipeline that transports natural gas in Texas. NextEra Energy Partners acquires, manages and owns contracted clean energy projects with stable, long-term cash flows.
“We are pleased to complete the sale of the Monument pipeline,” said John Ketchum, chief executive officer. “With the sale of this pipeline asset, at an accretive EBITDA multiple, we expect to redeploy the transaction proceeds to acquire higher-yielding renewable assets. This transaction demonstrates our ability to execute on our long-term growth plans as we continue to position NextEra Energy Partners to take advantage of the clean energy transformation and continue to offer a best-in-class investor value proposition with growth prospects that remain as strong as ever.”