Overview

Bank of China provides a $100 million USD revolving credit facility to Florida Power & Light Company for unspecified purposes

Commitments (Constant USD, 2023)$109,072,157

Commitment Year•2016Country of Activity•United StatesDirect Recipient Country of Incorporation•United StatesSector•EnergyFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Dec 31, 2016

Last repayment (originally scheduled): Dec 31, 2019

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Commercial Banks

Bank of China (BOC)

Receiving agencies

Private Sector

Florida Power & Light Company (FPL)

Loan description

Bank of China provides a $100 million USD revolving credit facility to Florida Power & Light Company for unspecified purposes

Interest type•Unknown

Narrative

Full Description

Project narrative

Prior to December 31, 2016, the Bank of China (BOC) entered into a $100,000,000 USD revolving credit facility (RCF) agreement with Florida Power & Light Company (FPL) — a Florida-incorporated power utility company and wholly-owned subsidiary of NextEra Energy, Inc. based in Juno Beach, Florida — for unspecified purposes. This RCF carried a final maturity date of December 31, 2019. As this RCF is not mentioned among debt in a report dated December 31, 2019, AidData has assumed it was repaid and cancelled.

Staff comments

1. Florida Power & Light Company, the principal wholly-owned subsidiary of NextEra Energy, Inc., is the largest power utility in Florida and has the third-largest number of customers of any electric utility in the United States. It is a Juno Beach, Florida-based power utility company serving roughly 5 million customers and 11 million people in Florida and had about 10,000 employees as of the end of 2012.