JPMorgan To Hand NextEra $209M For Calif. Wind Farms

Law360, New York (December 22, 2011, 4:28 PM EST) -- NextEra Energy Resources LLC expects to rake in a combined $209 million from a JPMorganChase & Co. unit in exchange for a stake in three California wind farms, the U.S.'s biggest wind power producer said Thursday.

JPMorgan Capital Corp. will get Class B membership interests in NextEra's Golden Winds LLC subsidiary in a tax equity deal, NextEra said in a statement. The investment bank unit will provide $131 million at closing, and NextEra said it expects an additional $78 million in early 2012.

The funding, which will provide...
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