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NextEra Energy Transmission acquires GridLiance for $660 M

USA, Florida, Juno Beach: USA-based clean energy company NextEra Energy Transmission has acquired GridLiance Holdco and GridLiance GP from Blackstone.

GridLiance owns around 1100 km (700 mi) of high-voltage transmission lines as well as related equipment with utility rates set by the Federal Energy Regulatory Commission (FERC).

Its assets are located in three regional transmission organisations and in six states.

The acquisition was closed for a consideration of almost $660 M, including the assumption of debt.

A subsidiary of NextEra Energy, NextEra Energy Transmission operates in California, New Hampshire and Texas. It currently has several projects under development across the USA and Canada.

NextEra Energy chairman and CEO Jim Robo said: “We are pleased to have completed the acquisition of GridLiance and welcome their team into the NextEra Energy family. This acquisition furthers our goal of creating America’s leading competitive transmission company and is consistent with our strategy of adding high-quality regulated assets to our portfolio.”

 

Source: Power Technology