The limited recourse term loan has a variable interest rate and matures in September 2028. NextEra Energy Resources intends to use the proceeds of the loan to reimburse, in part, capital contributions made by NextEra Energy Resources to develop and build both the wind turbines assets and associated transmission lines.
"The test of a successful wind farm project is whether it can attract market financing,” said Armando Pimentel, chief financial officer of NextEra Energy, Inc. “We’re pleased that our projects continue to meet that test, and that we can secure an 18-year loan at attractive rates.”
The loan is secured by liens on the wind power generation assets, associated transmission facilities and the ownership interest in Wild Prairie Wind, LLC.
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.