An affiliate of Singapore’s GIC has agreed to acquire a 19.9 percent minority interest in Duke Energy Indiana (DEI), a subsidiary of Duke Energy, for $2.05 billion.
Following the transaction, Duke will remain the majority owner, holding an 80.1 percent stake in the business.
Duke is planning to use the proceeds of the sale to accelerate its clean energy transition. Specifically, the company is planning to redeploy capital to support increased growth investments within its portfolio of regulated utilities.
“We are pleased to have GIC as a long-term investor in DEI,” said Lynn Good, chair, president and CEO of Duke Energy. “This agreement with GIC allows Duke Energy to not only partner with a highly respected global investor, it also strengthens our confidence as we increase our long-term adjusted EPS growth rate to 5 to 7 percent.”
Good added, “With this agreement, Duke Energy is well positioned to effectively finance our robust investment plan
