XPLR Infrastructure LP (fka NextEra Energy Partners) (XIFR)
Pitch Summary: Busted yieldco pivoting from distributions to deleveraging and CEPF buyouts; trades ~8x Bull-term EBITDA and low-teens FCFbg yield with potential 100%+ equity upside if cash flows prove durable. BSD Analysis: stable 10 GW contracted fleet (avg ~13-yr life), no new equity; double-digit IRRs on CEPF buyouts; post-’27 optionality for buybacks/dividend; data-center-driven demand tailwind. […]
