#Pinterest stock today full

Its electric utilities serve 8.2 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 50,000 megawatts of energy capacity. Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal counsel to Duke Energy.ĭuke Energy also continues to make strong progress on a separate sale underway for its distributed energy business, which is also expected to close by year-end 2023.ĭuke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America’s largest energy holding companies.

LLC and Wells Fargo Securities, LLC are serving as financial advisors to Duke Energy for this transaction. The sale is expected to close by the end of 2023.

The sale is subject to satisfaction of customary closing conditions, including regulatory approval by the Federal Energy Regulatory Commission and the expiration of the waiting period under the Hart-Scott-Rodino Act. with almost 90,000 megawatts of operating and development assets.” “We are also adding to our pipeline of renewable development projects, solidifying our position as one of the largest renewable energy businesses in the U.S.

#Pinterest stock today full

“With this acquisition, we are adding a scale operating renewable platform with a full suite of in-house capabilities and a proven management team experienced in operations and development,” said Connor Teskey, CEO of Brookfield Renewable. and the Duke Energy employees that support the business will transition over to Brookfield to maintain business continuity for its operations and customers. The primary operations of the Commercial Renewables business will remain in Charlotte, N.C. The sale agreement for the Commercial Renewables business platform includes more than 3,400 megawatts (alternating current) of utility scale solar, wind and battery storage across the U.S., net of joint venture partners ownership, in addition to operations, new project development, and current projects under construction. “This sale is an important step in our transition into a purely regulated company with significant grid and clean energy investment plans that will deliver benefits to our customers and stakeholders.” “As one of the country’s largest renewable energy operators, Brookfield has the resources to support the continued growth and success of the Commercial Renewables’ portfolio,” said Lynn Good, Duke Energy chair, president and CEO. This will allow the company to focus on the growth of its regulated businesses, including investments to enhance grid reliability and help incorporate over 30,000 megawatts of regulated renewable energy into its system by 2035. Duke Energy will utilize the proceeds to strengthen its balance sheet and avoid additional holding company debt issuances. – Duke Energy (NYSE: DUK) today announced it has reached an agreement to sell its unregulated utility scale Commercial Renewables business to Brookfield Renewable (“Brookfield”), one of the world's largest owners and operators of renewable power and climate transition assets, at an enterprise value of approximately $2.8 billion, including non-controlling tax equity interests and the assumption of debt.ĭuke Energy’s expected net proceeds from this transaction are approximately $1.1 billion, subject to certain customary adjustments. Duke Energy to focus on significant regulated clean energy growth opportunitiesĬHARLOTTE, N.C.Transaction expected to close by year-end 2023.