Peace Garden Wind Funding LLC, an indirect wholly owned subsidiary of NextEra Energy Resources LLC, has raised $78 million in funds through a five-year variable term-loan agreement. The company plans to use the proceeds to reimburse, in part, capital contributions made to build wind facilities.
NextEra Energy Resources LLC is a subsidiary of NextEra Energy Inc. (FPL). Peace Garden Wind consists of approximately 170 megawatts of wind energy projects in North Dakota.
Last month, Peace Garden Wind Funding raised approximately $190 million in capital through a differential partnership structure. The combination of this financing and the differential partnership transaction has resulted in the return of a significant portion of the capital invested in the Peace Garden Wind projects, which can now be redeployed for future growth.
A subsidiary of Florida-based NextEra Energy Inc. (previously known as FPL Group Inc.), NextEra Energy Resources is a clean energy leader and one of the largest competitive energy suppliers in North America. NextEra Energy Resources is the largest generator of renewable energy from wind and sun. It has the majority of its generation assets in the North East, Mid-Atlantic, Central and Western United States.
NextEra Energy Resources has a growing portfolio of facilities with nearly 17,000 net megawatts of generating capacity. Approximately 95% of its electricity is derived from clean or renewable sources, including wind, solar, hydro, natural gas and nuclear energy.
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