FPL Energy LLC's wholly owned subsidiary, Bison Wind LLC, has closed a private offering of $186 million of 6.665%, 24.5-year senior secured notes. The company also announced that Bison Wind Portfolio LLC, another wholly owned subsidiary of FPL, has closed a private offering of $20 million of 7.51%, 15-year senior secured notes.
The financing consisted of two wind projects in diverse geographic regions totaling 196.5 MW of capacity. The two facilities are located in North Dakota and Oklahoma. FPL Energy intends to use substantially all of the net proceeds it will receive from the offerings to repay a portion of the investment made by the company in the development, acquisition and/or construction of the two wind power projects.