NextEra Energy to purchase wind projects from Babcock and Brown

Normal.dotm 0 0 1 305 1741 PennWell 14 3 2138 12.0 0 false 18 pt 18 pt 0 0 false false false Juno Beach, Fla., October 1, 2009 — NextEra Energy Resources, LLC, a unit of FPL Group, agreed to buy three operating wind projects with a combined capacity of 184.5 MW from Babcock and Brown.Juno Beach, Fla., October 1, 2009 — NextEra Energy Resources, LLC, a unit of FPL Group, agreed to buy three operating wind projects with a combined capacity of 184.5 MW from Babcock and Brown.

Under the agreement, a wholly owned unit of NextEra Energy Resources will purchase three operating wind projects for about $352 million. The projects included in the transaction are:

“- 79.5-MW Majestic Wind Energy Center located in Carson County, Texas, northeast of Amarillo. The Majestic project is comprised of 54 GE 1.5-MW turbines. All of the output from this project is sold to Southwestern Electric Power Company, a subsidiary of AEP, under a long-term contract.

“- 54-MW Butler Ridge Wind Energy Center located in Dodge County, Wisconsin, northwest of Milwaukee. The Butler Ridge project is comprised of 36 GE 1.5-MW wind turbines. A portion of the output from the project is sold to Wisconsin Public Power under a long-term contract. The remaining output will be sold to Midwest utilities to serve their growing renewable portfolio standard requirements.

“- 51-MW Wessington Springs Wind Energy Center located in Jerauld County, South Dakota, south of Wessington Springs. The Wessington Springs project is comprised of 34 GE 1.5-MW wind turbines. All of the output from this project is sold to Heartland Consumer Power District under a long-term contract.

Approvals for the transaction are needed from federal agencies, including the Federal Energy Regulatory Commission and Department of Justice clearance under the Hart Scott Rodino Antitrust Improvements Act of 1976. The transaction is also subject to other closing conditions. NextEra Energy Resources expects to complete the transaction by the end of 2009. Upon closing, the company will assume management and operation of all three wind projects. The acquisition is expected to be accretive to earnings per share in 2010.

NextEra Energy Resources operates more than 8,300 wind turbines at 66 wind projects located in 16 states and two Canadian provinces. By the end of 2009, NextEra Energy will have invested more than $10 billion in its wind business.

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The Clarion Energy Content Team is made up of editors from various publications, including POWERGRID International, Power Engineering, Renewable Energy World, Hydro Review, Smart Energy International, and Power Engineering International. Contact the content lead for this publication at Jennifer.Runyon@ClarionEvents.com.

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