NextEra Energy Inc. (NEE) unit raised $131 million in tax-equity financing from JPMorgan Chase & Co. (JPM) for three California wind farms.
In addition to the financing announced today, Nextera?s Golden Winds LLC expects to receive an additional $78 million from JPMorgan in early 2012, the Juno Beach, Florida-based power producer said in a statement. The projects have a total capacity of 205.9 megawatts.
Taking a stake in the wind farms entitles JPMorgan to apply a share of the projects? tax credits to its own tax bill. They will enter operation this month or next, Steve Stengel, a NextEra spokesman, said today in an e-mail.
Golden Winds owns the 78.2-megawatt Montezuma II project in Solano County, the 78.2-megawatt Vasco wind farm in Contra Costa County and the 49.5-megawatt San Georgia project in Riverside County, according to a NextEra Dec. 6 filing with the U.S. Federal Energy Regulatory Commission.
PG&E Corp.?s Pacific Gas & Electric Co. utility will buy the output from Montezuma and Vasco. San Georgia has ?several long-term power purchase agreements,? NextEra said in the filing, without naming the buyers.
Source: http://www.energytrend.com/NextEra_Wind_20111228
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