$3bn for NextEra Renewables (FPL) in 5-Y Credit Agreements 2012-2017 (5Y-energy-capital)

NextEra Energy Capital Holdings, Inc. and Florida Power & Light Company Enter New 5-Year Credit Agreements

Feb 13 12

NextEra Energy Capital Holdings, Inc. and Florida Power & Light Company (FPL) separately entered into new revolving line of credit and letter of credit agreements expiring in February 2017. The five-year agreements provide for the funding of loans to NextEra Energy Capital and FPL for up to an aggregate total of $5 billion, comprising $3.1 billion for NextEra Energy Capital and $1.9 billion for FPL. The agreements also include revolving letter of credit facilities for up to 50% of such amounts. The agreements replaced approximately 75% of the credit made available under two existing revolving line of credit and letter of credit agreements, which, prior to the new agreements, aggregated about $6.4 billion, comprising $3.9 billion for NextEra Energy Capital and $2.5 billion for FPL. The existing revolving line of credit and letter of credit facilities now provide for borrowings of up to an aggregate total of about $1.6 billion, comprising $979 million for NextEra Energy Capital and $618 million for FPL, and include revolving letter of credit facilities for up to 100% of such amounts.

Florida Power & Light’s planned combined-cycle solar and natural gas power plant

Explainer:

January 7, 2009, green.blogs.nytimes.com

NextEra largest generator of wind solar power in North America

FPL Group, the big electricity services provider, said it plans to rename FPL Energy, its renewable energy subsidiary — and the largest generator of wind and solar power in North America. It will hereafter be called NextEra Energy Resources.

source: investing.businessweek.com