Duke Energy Secures $6 Billion Investment from Brookfield to Expand Florida Operations

Duke Energy has entered into a significant partnership with Brookfield Renewable, securing a $6 billion investment for its Florida operations. This strategic move aims to bolster the utility’s infrastructure and support its extensive capital plan.

Brookfield Renewable will acquire a 19.7% indirect equity stake in Duke Energy Florida through Florida Progress. The investment will be disbursed in phases: $2.8 billion in early 2026, $200 million by the end of 2026, $2 billion in 2027, and $1 billion in 2028. Duke Energy retains an 80.3% ownership and operational control over the utility. The influx of capital will facilitate a $4 billion increase in Duke Energy’s five-year capital plan, now totaling $87 billion. This expansion focuses on enhancing grid reliability, integrating renewable energy sources, and upgrading infrastructure to meet the growing energy demands of Florida’s communities.

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