An intrastate natural gas pipeline in Texas owned by NextEra Energy Partners LP, the 156-mile, 16-inch diameter Monument Pipeline LP, has been sold to a Houston-based holding company for $203 million. 

monument pipeline

Monument, part of the Juno Beach, FL-based partnership’s Texas portfolio, sold the system to Arm Monument Intermediate Holdings LLC, an affiliate of Arm Energy Holdings LLC. 

“With the sale of this pipeline asset…we expect to redeploy the transaction proceeds to acquire higher-yielding renewable assets,” NextEra Energy Inc. CEO John Ketchum said. NextEra has been shedding its U.S.-focused natural gas assets to build a renewables portfolio, mostly composed of wind and solar. 

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