Brookfield's Sustainable Investment in Duke Energy Florida
Duke Energy and Brookfield are collaborating to secure a US$6bn investment in Duke Energy Florida, significantly contributing to Duke Energy’s ambitious US$87bn five-year capital initiative.
“For more than a century, we’ve had the privilege of serving extraordinary Florida communities, which are now some of the most dynamic and fastest growing in the nation,” says Harry Sideris, President and Chief Executive Officer of Duke Energy.
“We’re pleased to have Brookfield, a highly regarded infrastructure investor, as a long-term partner in Duke Energy Florida.
“This significant transaction at a compelling valuation best positions Duke Energy to unlock additional capital investments in Duke Energy Florida during this unprecedented growth period.
“It also materially strengthens Duke Energy’s overall credit profile, which in turn enables us to invest in our energy modernisation plans across our entire footprint – all while helping keep prices as low as possible for our customers.”
About Brookfield
Brookfield is a global investment powerhouse headquartered in New York, managing more than US$1tn in assets.
The firm, led by CEO Bruce Flatt, focuses heavily on sustainability with more than US$126bn in renewable power and transition assets and an additional US$202bn in infrastructure.
Brookfield's commitment to sustainability is evident through its ownership of 60% of Brookfield Renewable Partners, which owns nearly 460,000 MW of generating capacity, underscoring its dedication to the energy transition.
“We are delighted to partner with Duke Energy in a critical business and premier regulated utility like Duke Energy Florida through Brookfield’s Super-Core Infrastructure strategy,” says Sam Pollock, Chief Executive Officer of Brookfield’s Infrastructure group.
“We look forward to supporting the continued growth of Duke Energy Florida’s regulated asset base and, accordingly, ensuring excellent service delivery for its customers.
“This transaction underscores our patient strategy of partnering with leading corporates and investing in essential infrastructure assets that underpin economic growth, and that generate stable long-term cash flows across market cycles.”
Inside Duke Energy
Based in Charlotte, North Carolina, Duke Energy owns 55,100 MW of energy capacity, serving 8.6 million customers.
The company is dedicated to providing clean, reliable, and affordable energy across seven states in the Southeast and Midwest.
Duke Energy describes itself as an 'industry leader in sustainable innovation', aligning with its commitment to sustainability and customer-centric services.
“Duke Energy’s commitment to our customers and communities is unwavering, driving us to continuously find innovative ways to meet the moment for our customers. This exciting partnership allows us to do just that,” says Melissa Seixas, Duke Energy Florida State President.
“This partnership will create value for all of our communities as we invest in generation, transmission and distribution enhancements that increase reliability, maintain affordability and support future economic development in our state.”
Duke Energy Florida’s five-year capital plan
Duke Energy Florida serves two million customers across central and western Florida.
Its five-year capital plan, now exceeding US$16bn in total investment through 2026, focuses on grid modernisation and resiliency initiatives.
These efforts are essential to support the dynamic service territory, with a strong emphasis on incorporating new technologies like smart grids and advanced metering infrastructure to enhance efficiency, reliability and resilience.
The partnership between Brookfield and Duke Energy is a step towards a more sustainable energy future, demonstrating a commitment to modernising infrastructure and supporting economic growth while prioritising environmental responsibility.
