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.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV