“By combining two previously financed portfolios, this transaction represents an evolution of a structure we first used in September 2010 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, executive vice president of finance and chief financial officer of NextEra Energy, Inc. “We’re very pleased to have closed a second transaction using this tool to raise tax equity for existing projects and to have worked with a tax equity investor new to NextEra Energy Resources.”
During the quarter, NextEra Energy Resources completed a review of the estimated useful life of the newer wind turbines in the company’s portfolio as of Jan. 1, 2011.
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 power and solar power. 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 had 2010 revenues of more than $15 billion, nearly 43,000 megawatts of generating capacity, and approximately 15,000 employees in 28 states and Canada.