20.12.2006: Meldung: FPL Energy, LLC: Completion of Subsidiary Financing
Tuesday December 19, 3:46 pm ET
JUNO BEACH, Fla.----FPL Energy, LLC, today announced that its wholly owned subsidiary, Lone Star Wind, LLC, has closed on a $700 million credit facility consisting of a $600 million 15 year variable rate term loan and a $100 million 10 year letter of credit facility.
The financing consisted of three recently completed wind projects in western Texas, representing 606.5 megawatts of capacity. FPL Energy intends to use substantially all of the net proceeds it will receive from the term loan to repay a portion of the investment made by the company in the development, acquisition and/or construction of the three wind power projects.
"This loan and LC facility represent one of our largest single wind financings to date and further validates wind energy as a viable investment option. We are extremely pleased with the terms of this transaction and believe that well structured wind transactions will continue to be able to attract capital on favorable terms," said Moray Dewhurst, chief financial officer of FPL Group. "As the largest owner and operator of wind turbines in the U.S., FPL Energy continues to lead the way in low cost alternative energy delivery for its customers."
FPL Energy is a competitive energy supplier utilizing clean fuels such as, natural gas, wind, solar, hydroelectric and nuclear to generate electricity. It is a subsidiary of FPL Group (NYSE:FPL - News), one of the nation"s largest providers of electricity-related services with annual revenues of more than $12 billion. FPL Group"s principal subsidiary is Florida Power & Light Company, one of the nation"s largest electric utilities, serving 4.4 million customer accounts in Florida. Additional information is available on the Internet at www.FPL.com, www.FPLGroup.com and www.FPLEnergy.com.
FPL Energy, LLC, Juno Beach
Steve Stengel, 888-867-3050
Source: FPL Energy, LLC