Sempra Energy to acquire Oncor and invest $7.5B in its T&D network
USA, California: San Diego-based utility holding company Sempra Energy has entered into an agreement to acquire Oncor Electric Delivery Company, headquartered in Dallas, Texas, for $9.45 billion in cash.
Under the terms of the agreement, Sempra will acquire Energy Future Holdings (EFH), the indirect owner of 80% of Oncor, which is an operator of electric transmission and distribution network in Texas, reports EBR.
Sempra Energy has also committed to support Oncor’s plans to invest $7.5 billion over a five-year period to expand and strengthen its transmission and distribution network.
The transaction is expected to be completed in the first half of 2018.
Source: Energy Business Review