NextEra Energy Resources’ Subsidiary Raises $190 Million In Capital For Wind Projects Through Differential Partnership Structure
NextEra Energy Resources, LLC, a subsidiary of FPL Group, Inc., announced today that its subsidiary Peace Garden Wind Funding, LLC, has sold approximately $190 million of Class B membership interests in Peace Garden Wind, LLC. Peace Garden Wind consists of 169.5 megawatts of wind energy projects in North Dakota.
NextEra Energy Resources intends to use the proceeds from the sale to reimburse, in part, capital contributions made by NextEra Energy Resources to develop and build the wind facilities.
“This transaction marks NextEra Energy Resources’ second differential partnership transaction and the first since 2007,” said Armando Pimentel, FPL Group’s executive vice president of finance and chief financial officer. “We’re pleased that we continue to have access across the capital markets, including differential partnership structures, to fund the growth of the wind business.”
About NextEra Energy ResourcesNextEra Energy Resources is a clean energy leader and one of the largest competitive energy suppliers in North America. A subsidiary of Juno Beach, Fla.-based FPL Group (NYSE: FPL), 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 FPL Group nuclear fleet, which is the third largest in the United States. FPL Group 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.
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