The transaction comprises two fundings.
The 150MW White Oak project is located in Illinois, is expected to qualify for a cash grant under section 1603 of the American Reinvestment and Recovery Act.
NextEra Energy executive vice president of finance and chief financial officer Armando Pimentel said the transaction is the company’s first tax-equity transaction with the cash grant as a component.
"We’re very pleased to be able to demonstrate continued success in the tax-equity market and to raise capital in a tax-efficient manner," Pimentel added.
