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 megawatts 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 Funding, LLC, raised approximately $190 million in capital through a differential partnership structure.
“We’re pleased to have closed this financing following the differential partnership transaction,” said Armando Pimentel, executive vice president of finance and chief financial officer for NextEra Energy, Inc. “The combination of this financing and the differential partnership transaction has resulted in the return of a significant portion of the capital invested in the Peace Garden Wind projects, which can now be redeployed for future growth.”
