Heartland Wind Funding, a subsidiary of NextEra Energy Resources, has raised approximately $71m in capital for wind projects.

The company has issued Class B membership interests to JPM Capital in exchange for the $71m up front and a commitment to fund expected capital contributions of approximately $195m in the future.

Heartland Wind consists of 309MW of wind energy projects in North Dakota and Iowa.

NextEra chief financial officer Armando Pimentel said that this transaction represents a unique structure for NextEra where the tax equity investor makes an initial up front payment and additional investments over time tied to the production of the wind projects.

NextEra generates renewable energy from the wind and sun, and also operates nuclear power facilities in New Hampshire, Iowa and Wisconsin.