Eco-Friendly Benefits of Submetering Water, Gas, and Electric Utilities
August 7, 2025
Duke Energy Sells Minority Stake in Florida Operations to Brookfield for $6 Billion
Duke Energy Corp. has announced an agreement to sell a 19.7% stake in its Florida subsidiary, Duke Energy Florida, to Brookfield Asset Management in an all-cash transaction valued at $6 billion.
The deal, expected to close in phases beginning in early 2026, will provide Duke Energy with significant new capital while allowing the company to retain an 80.3% ownership stake and full operational control of its Florida business.
Strengthening Finances & Supporting Growth
“For more than a century, we’ve had the privilege of serving extraordinary Florida communities, which are now among the fastest growing in the nation,” said Harry Sideris, Duke Energy’s president and CEO. “We’re pleased to welcome Brookfield, a highly regarded infrastructure investor, as a long-term partner in Duke Energy Florida.”
The transaction will direct $2 billion toward Duke Energy’s expanded $87 billion, five-year investment plan and $4 billion toward debt reduction. Company leaders say the partnership will help modernize Florida’s energy infrastructure, expand generation capacity, and enhance grid reliability — all while maintaining affordable rates.
“This significant transaction positions Duke Energy to unlock additional capital investments during this unprecedented growth period,” Sideris added. “It also strengthens our overall credit profile, enabling investments across our entire footprint.”
Major Investments Planned in Florida
Duke Energy Florida currently serves approximately two million customers across central and western Florida and plans to invest more than $16 billion in the state by 2029. These projects will focus on generation, transmission, and distribution enhancements to improve reliability, meet rising demand, and support future economic development.
Melissa Seixas, Duke Energy Florida state president, emphasized the importance of the deal for local communities:
“This partnership will create value for all of our communities as we invest in enhancements that increase reliability, maintain affordability, and support future growth.”
Brookfield’s Long-Term Infrastructure Strategy
Brookfield, a global leader in infrastructure investment, praised Duke Energy Florida as a premier regulated utility with a strong growth outlook.
“We are delighted to partner with Duke Energy in a critical business like Duke Energy Florida through our Super-Core Infrastructure strategy,” said Sam Pollock, CEO of Brookfield’s infrastructure group. “We look forward to supporting the continued growth of its regulated asset base and ensuring excellent service delivery for customers.”
Brookfield’s $6 billion investment will be made in stages:
Early 2026: $2.8 billion at first closing
Late 2026: $200 million
2027: $2 billion
2028: $1 billion
The company retains the option to accelerate funding.
The transaction remains subject to approvals from the Federal Energy Regulatory Commission and other relevant authorities. Once completed, the partnership is expected to bolster Duke Energy Florida’s ability to meet the state’s growing energy demands while advancing modernization and sustainability initiatives.
