Brookfield invests $6 billion in Duke Energy Florida

Brookfield acquires 19.7% of Duke Energy Florida for $6 billion, strengthening the group's investment capacity and supporting a five-year modernisation plan valued at $87 billion.

Share:

Duke Energy has confirmed the sale of an indirect 19.7% stake in Duke Energy Florida to Brookfield for a total amount of $6 billion. This transaction, carried out entirely in cash, aims to support the group’s business growth in Florida and consolidate its financial structure.

Strengthening the investment plan in Florida

The agreement will allow Duke Energy Florida, an integrated provider serving two million customers in central and western Florida, to increase its five-year investment plan by $4 billion. Total investment in the state will thus reach $16 billion through 2029. The funds will be mainly used to modernise network infrastructure, increase production capacity, and improve resilience in the face of sustained population growth.

Of the $6 billion resulting from the transaction, $2 billion will directly fund the investment plan, while $4 billion will be used to reduce the debt of Duke Energy’s holding company. Following the transaction, the group retains 80.3% of Duke Energy Florida and remains its operator, with no changes in team structure or local management.

Terms of the transaction and timeline

Brookfield, through its Super-Core Infrastructure strategy, is making this investment via Florida Progress, the owner of Duke Energy Florida. The payment will be made in several phases: $2.8 billion at the first closing expected in 2026, $200 million by the end of 2026, $2 billion in 2027, and the remaining $1 billion in 2028. Brookfield has the option to accelerate this schedule if needed.

The transaction is subject to obtaining the necessary regulatory approvals, including those from the Federal Energy Regulatory Commission, the Committee on Foreign Investment in the United States, and the Nuclear Regulatory Commission.

Effects on financial structure and sector dynamics

The transaction will enable Duke Energy to increase its funds from operations to debt ratio by 100 basis points, reaching 15%. The group also targets earnings per share growth of 5% to 7% through 2029. Brookfield, an asset manager with more than $200 billion in the infrastructure sector, supports Duke Energy during a period of strong expansion for public utilities in Florida.

Management specified that no changes are planned for staff or local leadership as the company continues to modernise its infrastructure and strengthen the reliability of its network.

Suncor Energy reports improved profitability in the second quarter of 2025, driven by controlled industrial execution and a market-focused financial policy.
Rubellite Energy Corp. reports a 92% rise in heavy oil production and a reduction in net debt in the second quarter of 2025, driven by increased investment in the development of Figure Lake and Frog Lake.
With a net profit of $1.385bn in the second quarter of 2025 and a sharp rise in capex, ADNOC Gas consolidates its position in the global natural gas market.
Siemens Energy posts historic third-quarter orders, significant revenue growth and lifts its dividend ban, reinforcing its backlog strength and ambitions for profitable growth in 2025.
The proliferation of Chinese industrial sites abroad, analysed by Wood Mackenzie, allows renewable energy players to expand their hold on the sector despite intensified global protectionist measures.
Pedro Cherry becomes chief executive officer of Mississippi Power, succeeding Anthony Wilson, as the company navigates regional growth and significant challenges in the energy sector of the southern United States.
METLEN Energy & Metals makes its debut on the London Stock Exchange after a share exchange offer accepted by more than 90% of shareholders, opening a new phase of international growth.
Q ENERGY France secures a EUR109mn loan from BPCE Energeco for the construction of two wind farms and two solar power plants with a combined capacity of 55 MW.
The Canadian energy infrastructure giant launches major projects totaling $2 billion to meet explosive demand from data centers and North American industrial sector.
Chevron’s net profit dropped sharply in the second quarter, affected by falling hydrocarbon prices and exceptional items, as the group completed its acquisition of Hess Corporation.
ExxonMobil reports a decrease in net profit to $7.08bn in the second quarter but continues its policy of high shareholder returns and advances its cost reduction objectives.
Sitka Power Inc. completes the acquisition of Synex Renewable Energy Corporation for $8.82 mn, consolidating its hydroelectric assets and strengthening its growth strategy in Canada.
DLA Piper assists Grupo Cox in a planned transfer of Iberdrola assets in Mexico, with a reported value of $4.2 billion, mobilising an international legal team.
Italian group Enel reports net profit of €3.4bn for the first half, down from last year, while revenue rises to €40.8bn amid market volatility.
Atlantica Sustainable Infrastructure takes over Statkraft’s Canadian platform, including all operational and development-stage wind, solar, and storage assets in Canada.
Encavis AG announces the acquisition of a 199 MW portfolio consisting of three wind farms and two photovoltaic plants in Aragon, marking a key step in the group's technological diversification in Spain.
TC Energy reports higher financial results in the second quarter of 2025, boosts investments and anticipates a rise in annual EBITDA driven by growing natural gas demand in North America.
Saturn Oil & Gas reports a reduction in net debt by $86mn in the second quarter of 2025, achieving record free cash flow and production above forecasts in the North American market.
Cenovus Energy announces a net profit of $851mn for the second quarter of 2025, while accelerating the completion of its main growth projects and strengthening its strategic position despite temporary operational constraints.
Analysis of sectors spared by Trump tariffs exposes the vulnerability of US industrial supply chains to Brazilian resources.