NextEra Energy Resources’ Subsidiary Raises Capital For Wind Projects

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Heartland Wind Funding LLC, a subsidiary of NextEra Energy Resources LLC, has issued Class B membership interests to JPM Capital Corp. in exchange for approximately $71 million up front and a commitment to fund expected capital contributions of approximately $195 million in the future. Heartland Wind has 309 MW of wind energy projects in North Dakota and Iowa.

‘This transaction represents a unique structure for NextEra Energy Resources where the tax-equity investor makes an initial up-front payment and additional investments over time tied to the production of the wind projects,’ says Armando Pimentel, chief financial officer of NextEra Energy Inc.

SOURCE: NextEra Energy Resources LLC

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