NextEra Energy Resources, through its subsidiary Wild Prairie Wind, has obtained approximately $297m in financing for 249MW of wind energy projects in Iowa and South Dakota.

The limited recourse term loan has a variable interest rate and matures in September 2028.

The company intends to use the proceeds of the loan to reimburse, in part, capital contributions made by NextEra Energy to develop and build both the wind assets and associated transmission lines.

The loan is secured by liens on the wind generation assets, associated transmission facilities and the ownership interest in Wild Prairie Wind.

NextEra Energy chief financial officer Armando Pimentel said that the test of a successful wind project is whether it can attract market financing.

"We’re pleased that our projects continue to meet that test, and that we can secure an 18-year loan at attractive rates," Pimentel said.