NextEra Subsidiary Raises $177 Million For Wind Project

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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.

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