SEGS Solar Thermal Assets Leveraged

[RenewableEnergyAccess.com] FPL Energy, LLC, a subsidiary of FPL Group, Inc. (NYSE: FPL), and affiliates of Carlyle/Riverstone Global Energy and Power Fund II, L.P. announced today that Kramer Junction Solar Funding, LLC has completed the issuance of $125 million of senior secured notes with a final maturity of 2014. This financing is in connection with the acquisition earlier this year by FPL Energy, along with certain FPL Energy affiliates, and affiliates of Carlyle/Riverstone, of a majority interest in five 30-megawatt Solar Energy Generating System (SEGS III-VII) assets in the Mojave Desert. FPL Energy operates the SEGS plants. All of the power generated from the SEGS projects is sold to Southern California Edison under long-term contracts. With these new projects, FPL Energy is now the largest operator of solar power in the U.S. with 310 MW’s.

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