NextEra Energy sells Florida City Gas for $923 million

AK&M 27 September 2023 13:46

American energy company NextEra Energy, Inc. through its subsidiary Florida Power & Light Company (FPL) has entered into an agreement to sell Florida City Gas (FCG) to Chesapeake Utilities Corp. This is reported in the NextEra press release.

The transaction value is $923 million, including $145 million of debt obligations.

The deal is in line with NextEra Energy's strategy of reallocating capital into its core business. Completion of the transaction is expected within the next few months.

FCG, a subsidiary of NextEra Energy, serves about 120,000 natural gas consumers in eight counties of the state of Florida (USA).

Goldman Sachs & Co. LLC is acting as financial advisor, and Norton Rose Fulbright is acting as legal advisor to NextEra Energy.

NextEra Energy, Inc. is an American energy company headquartered in Juno Beach, Florida.  The company owns an enterprise for the production of environmentally friendly energy NextEra Energy Resources, LLC, which is engaged in the production of wind and solar energy, as well as the production of batteries. In addition, NextEra Energy produces nuclear energy at seven commercial nuclear power plants in the states of Florida, New Hampshire and Wisconsin (USA). 

Chesapeake Utilities is an American diversified energy company headquartered in Delaware (USA). The company provides distribution and supply of natural gas, as well as distribution of electricity and propane.