NextEra Energy Resources LLC has announced that one of its subsidiaries has sold Class B membership interests in White Oak Energy Funding LLC to a subsidiary of Bank of America Corp.
The transaction comprises two fundings totaling $177 million in proceeds. The financing backs a 150 MW project located in Illinois that is expected to qualify for a cash grant under section 1603 of the American Reinvestment and Recovery Act. This is NextEra Energy's first tax-equity transaction with the cash grant as a component, according to the company.
