NextEra Energy Inc., an electric power and energy infrastructure company and parent of Florida Power & Light Company and NextEra Energy Resources, has agreed to acquire Dominion Energy Inc. in an all-stock transaction that will create the world’s largest regulated electric utility company.
The all-stock deal is valued at nearly $67 billion, according to Reuters. Following the close of the transaction, NextEra (NYSE: NEE) shareholders will own approximately 74.5 percent of the combined company, while Dominion (NYSE: D) shareholders will own about 25.5 percent. The combined business will operate under the NextEra Energy name and ticker symbol NEE, with dual headquarters in Juno Beach, Fla,. and Richmond, Va. The deal will create a utility platform serving roughly 10 million customer accounts across Florida, Virginia, North Carolina and South Carolina, with more than 110 GW of generation capacity across renewables, natural gas and nuclear power.
Dominion Energy, headquartered in Richmond, Va., provides regulated electricity service to approximately 3.6 million customers across Virginia, North Carolina and South Carolina, along with regulated natural gas service in South Carolina. The company is a major developer and operator of offshore wind, solar and other carbon-free generation assets, including one of the largest regulated offshore wind projects in the U.S.