FPl Group Subsidiary (FPL) To Buy Babcock & Brown Wind Farms

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08:51:40 am on October 1, 2009

FPL subsidiary NextEra Energy Resources just announced that it is in the process of purchasing 3 wind farms from Babcock and Brown. Together, the wind projects are capable of producing 184.5 megawatts of power.

Per the agreement, which still needs regulatory approval, NextEra will pay something along the lines of $352 million for the following wind farms:

Majestic Wind Energy Center, a 79.5 MW wind farm located in Carson County, Texas, that sells power to Southwestern Electric Power Company.

Butler Ridge Wind Energy Center, a 54 MW wind farm in Wisconsin. Currently, part of the power produced at this wind farm goes to Wisconsin Public Power, and the rest is expected to go to area utilities.

Wessington Springs Wind Energy Center, a 51 MW wind farm in South Dakota that sells its power to Heartland Consumer Power District.

In a press release, NextEra President and CEO Mitch Davidson commented on the purchase:

“We’re proud to generate more emission-free energy from the wind than anyone else in North America. This acquisition furthers our clean energy leadership and is consistent with our strategy to profitably grow our wind portfolio. All of these projects are located in markets with very strong wind regimes and utilize proven wind turbine technology. In addition, we are pleased that more than 80 percent of the total output from these three facilities is being sold under long-term contracts to creditworthy counterparties.”

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