(Source: Business Wire)

NextEra Energy Resources, LLC, a subsidiary of FPL Group, Inc.
(NYSE:FPL) and North America's leading generator of wind power, today
announced it has entered into an agreement to purchase three operating
wind projects with a combined capacity of 184.5 megawatts (MW) from
Babcock & Brown.
Under the terms of the agreement, a wholly owned subsidiary of NextEra
Energy Resources will purchase three operating wind projects for
approximately $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 is expected to 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.
Mitch Davidson, president and CEO of NextEra Energy Resources, said,
"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."
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 is the largest generator of wind power in North
America. Today the company 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 expects to have invested more than $10
billion in its wind business. In addition to its wind portfolio, NextEra
Energy Resources is also the largest operator of solar power in the
U.S., with 310 MW located in California's Mojave Desert.
About NextEra Energy Resources
NextEra Energy Resources is a clean energy leader and one of the largest
competitive energy suppliers in North America. A subsidiary of Juno
Beach, Fla.-based FPL Group (NYSE: FPL), NextEra Energy Resources is the
largest generator in North America of renewable energy from the wind and
sun. It operates clean, emissions-free nuclear power generation
facilities in New Hampshire, Iowa and Wisconsin as part of the FPL Group
nuclear fleet, which is the third largest in the U.S. FPL Group had 2008
revenues of more than $16 billion, approximately 39,000 megawatts of
generating capacity, and more than 15,000 employees in 27 states and
Canada. For more information, visit these Web sites: www.NextEraEnergyResources.com,
www.FPLGroup.com.
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