Peace Garden Wind Funding LLC, an indirect wholly owned subsidiary of NextEra Energy Resources LLC, has entered into a $78 million variable-rate, term-loan agreement with a maturity of approximately five years. Principal and interest on the loan are payable quarterly. Peace Garden Wind consists of approximately 170 MW of wind energy projects in North Dakota.
NextEra Energy Resources intends to use the proceeds from the financing to reimburse, in part, capital contributions made to develop and build the wind facilities.
Last month, Peace Garden Wind raised approximately $190 million in capital through a differential partnership structure.
SOURCE: NextEra Energy Resources LLC