NextEra Gets JPMorgan Financing for 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.
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