Mountain Prairie Wind LLC, a subsidiary of NextEra Energy Resources LLC, has sold $305 million in senior-secured private placement notes with a maturity of 20 years. Mountain Prairie Wind consists of 273.2 MW of wind energy projects in Colorado and Oklahoma.
NextEra Energy Resources intends to use the proceeds of the notes to reimburse, in part, capital contributions made by NextEra Energy Resources to develop and build the wind facilities.
The private placement notes bear interest at a rate of 6.56% per year, payable semi-annually, and the principal is fully amortized over the 20-year term. The notes are secured by liens on the wind generation assets of – and the ownership interests in – Mountain Prairie Wind and the subsidiary project owners.
SOURCE: FPL Group Â