M&A Deal Summary |
|
|---|---|
| Date | 2018-05-21 |
| Target | Southern - Florida Assets |
| Sector | Renewable Energy |
| Buyer(s) | NextEra Energy |
| Sellers(s) | Southern |
| Deal Type | Divestiture |
| Deal Value | 6.5B USD |
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| Category | Company |
|---|---|
| Founded | 1925 |
| Sector | Utilities |
| Employees | 15,000 |
| Revenue | 21.0B USD (2022) |
NextEra Energy is a clean energy company, more than 42,000 megawatts of generating capacity. Headquartered in Juno Beach, Florida, NextEra Energy's principal subsidiaries are Florida Power & Light Company, which serves approximately 4.6 million customer accounts in Florida. NextEra Energy was founded in 1925 and is based in Juno Beach, Florida.
| DEAL STATS | # |
|---|---|
| Overall | 4 of 5 |
| Sector (Renewable Energy) | 1 of 1 |
| Type (Divestiture) | 1 of 1 |
| State (Florida) | 1 of 1 |
| Country (United States) | 4 of 5 |
| Year (2018) | 1 of 2 |
| Size (of disclosed) | 1 of 3 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2016-11-01 |
FPL FiberNet
Miami, Florida, United States FPL FiberNet LLC is a provider of end-to-end bandwidth infrastructure services specializing in fiber-optic network solutions that drive stronger business productivity and performance. |
Sell | $1.5B |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2018-11-19 |
Trans Bay Cable
San Francisco, California, United States Trans Bay Cable LLC is a 53-mile, high-voltage direct current underwater transmission cable system with utility rates set by the Federal Energy Regulatory Commission (FERC) and revenues paid by the California Independent System Operator. The cable system extends from Pittsburg, California, to San Francisco, California, and provides approximately 40 percent of the electrical power used on a daily basis in San Francisco and its surrounding areas. TBC was developed and approved in response to a 1998 blackout in the Bay Area, which demonstrated a need for the greater resiliency of the electric grid in that region. |
Buy | $1.0B |
Southern is a premier energy company serving the Southeast through its subsidiaries. A U.S. producer of clean, safe, reliable and affordable electricity, Southern Company owns electric utilities in four states and a growing competitive generation company, as well as fiber optics and wireless communications. Southern was founded in 1945 and is based in Atlanta, Georgia.
| DEAL STATS | # |
|---|---|
| Overall | 3 of 6 |
| Sector (Renewable Energy) | 1 of 2 |
| Type (Divestiture) | 3 of 5 |
| State (Florida) | 1 of 2 |
| Country (United States) | 3 of 6 |
| Year (2018) | 1 of 3 |
| Size (of disclosed) | 1 of 2 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2017-10-16 |
Elizabethtown Gas
Union, New Jersey, United States Elizabethtown Gas is a provider of natural gas for 283,000 residential, business and industrial natural gas customers in New Jersey. |
Sell | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2018-05-23 |
Southern - Solar Portfolio
Atlanta, Georgia, United States Southern Co. - Solar Portfolio of projects involved in this transaction is comprised of 26 operating solar facilities representing approximately 1.7 gigawatts of capacity. The energy from these facilities is sold under long-term contracts with valued customers across the country. |
Sell | - |
