22.12.2003: Meldung: FPL Energy Wind Funding completes 125 Million US-Dollar Private Offering

FPL Energy, LLC, today announced that its wholly owned subsidiary, FPL Energy Wind Funding, LLC, has closed a private offering of $125 million of 6.876 percent, 14-year senior secured bonds. The bonds are rated Ba2 and BB- by Moody"s Investors Service and Standard & Poor"s, respectively.

FPL Energy intends to use substantially all of the net proceeds it will receive from the offering to repay a portion of the investment made by the company in the development, acquisition and/or construction of seven wind power projects. This holding company financing is a follow on to the successful American Wind financing completed earlier this year. The Wind Funding offering is structurally subordinated to the American Wind transaction that consisted of seven wind projects in four diverse regions of the U.S., representing 697 megawatts of capacity. The seven wind facilities included in the financing are located in California, New Mexico, Texas, Iowa, Wisconsin and Minnesota.

"We are delighted to leverage our recent success of the American Wind transaction with this follow on offering," said Moray Dewhurst, chief financial officer of FPL Group. "This offering underscores the strength of the underlying wind portfolio and serves as further validation that wind generation is viewed as more than a niche business by the financial markets and the credit rating agencies."

FPL Energy is a leading unregulated wholesale generator of clean energy, including natural gas, wind, solar, hydroelectric and nuclear. It is the nation"s leader in wind energy with 37 wind facilities in operation in 14 states. FPL Energy has a generating portfolio of more than 10,000 net megawatts in operation with more than 2,500 megawatts coming from clean and renewable wind energy. It is a subsidiary of FPL Group, one of the nation"s largest providers of electricity-related services with annual revenues of more than $9 billion. FPL Group"s principal subsidiary is Florida Power & Light Company, one of the nation"s largest electric utilities, serving more than 4 million customer accounts in Florida.

FPL Energy
P.O. Box 14000
Juno Beach, FL 33408-0420
Tel.: 561-691-7171

Source: FPL Energy
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