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NextEra Energy Resources announces completion of subsidiary financing - December 2011
JUNO BEACH, Fla. – NextEra Energy Resources, LLC, announced today that its subsidiary, Redwood Trails Wind, LLC, has obtained approximately $234 million in financing for 236.8 megawatts of wind energy projects located in Oklahoma and California.
The limited recourse term loan has a variable rate and matures in December 2029. 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 the wind energy projects.
“We are very pleased to have closed another project finance transaction this year,” said Moray Dewhurst, vice chairman and chief financial officer of NextEra Energy, Inc. “Securing an 18-year tenor at attractive interest rates in the current bank market is a testament to both the strength of the portfolio and the strength of our banking relationships.”
The loan is secured by liens on the wind energy projects assets and the ownership interest in Redwood Trails Wind, LLC.
NextEra Energy Resources