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FERC approves sale of GridLiance to NextEra Energy Transmission [free access]

March 30, 2021

The Federal Energy Regulatory Commission (FERC) recently approved the sale of GridLiance Holdco, LP and GridLiance GP, LLC (together, GridLiance) to NextEra Energy Transmission (NEET), LLC—a subsidiary of NextEra Energy Inc. The acquisition has been set for approximately USD660 million, including the assumption of debt.

 

GridLiance owns about 700-mile (1,127-km), high-voltage (HV) lines in Illinois, Kansas, Kentucky, Missouri, Nevada and Oklahoma. Launched in 2014, the company markets its expertise in planning, engineering, construction and operations to small transmission owners, including electric cooperatives and public power utilities/companies. In addition to the transmission systems it owns, GridLiance also has long-term partnership agreements in Missouri, Oklahoma, Nevada, Texas and Kansas.

 

The sale deal will be financed in part by parent NextEra Energy’s USD2 billion sale of equity to BofA Securities and Barclays. The acquisition will ensure a bigger foothold in the Midwestern US, to NextEra.