Published: September 30, 2010
NextEra Energy Resources' Subsidiary Raises $71 Million in Capital for Wind Projects Through Differential Partnership Structure
JUNO BEACH, Fla. - (BUSINESS WIRE) - NextEra Energy Resources, LLC, (NYSE: NEE), announced today that its
subsidiary Heartland Wind Funding, LLC has issued Class B membership
interests to JPM Capital Corporation in exchange for approximately $71
million up front and a commitment to fund expected capital contributions
of approximately $195 million in the future. Heartland Wind consists of
309 megawatts of wind energy projects in North Dakota and Iowa.
"This transaction represents a unique structure for NextEra Energy
Resources where the tax equity investor makes an initial up front
payment and additional investments over time tied to the production of
the wind projects," said Armando Pimentel, chief financial officer of
NextEra Energy, Inc. "We're very pleased that we have a new and
innovative tool to raise tax equity for existing projects that have been
previously financed with project debt."
NextEra Energy Resources
NextEra Energy Resources, LLC is a clean energy leader and one of the
largest competitive energy suppliers in North America. A subsidiary of
Juno Beach, Fla.-based NextEra Energy, Inc. (NYSE: NEE), NextEra Energy
Resources is the largest generator in North America of renewable energy
from the wind and sun. It operates clean, emissions-free nuclear power
generation facilities in New Hampshire, Iowa and Wisconsin as part of
the NextEra Energy nuclear fleet, which is the third largest in the
United States. NextEra Energy, Inc. had 2009 revenues of more than $15
billion, nearly 43,000 megawatts of generating capacity, and more than
15,000 employees in 28 states and Canada. For more information, visit www.NextEraEnergyResources.com.
NextEra Energy Resources, LLC
Randy Clerihue, 305-552-3888
Copyright © 2012, Business Wire, Inc., All rights reserved.
Copyright © 2012, NewsBlaze,
Daily News
Search News
