NextEra Bids $10M For Bankrupt Solar Trust Project

Law360, Wilmington (June 25, 2012, 3:35 PM EDT) -- A NextEra Energy Resources LLC unit has won the bankruptcy auction for Solar Trust of America LLC's flagship solar farm under development in California with a $10 million bid, according to court documents filed Friday in Delaware.

The project, located near Blythe, Calif., is envisioned to be the largest of its kind at 1,000 megawatts. NextEra Energy Resources LLC will pay $10 million up front for the Blythe project, plus up to $40 million of contingent payments — $40,000 per megawatt — based on the generating...
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