NextEra Energy Transmission, a subsidiary of NextEra Energy Inc., has completed the previously announced acquisition of independent transmission company GridLiance from affiliates of Blackstone for $660 million, including the assumption of debt.
GridLiance owns some 700 miles of high-voltage transmission lines and related equipment, with utility rates set by the Federal Energy Regulatory Commission (FERC). The company's assets span three regional transmission organizations and six states.
NextEra Energy Transmission develops, finances, constructs and maintains transmission assets across the continent. NextEra Energy Transmission operates through its regional subsidiaries to integrate renewable energy and strengthen the electric grid.
The company's subsidiaries were among the first non-incumbents to be awarded projects by system operators and utility commissions in California, New York, Texas and Ontario. NextEra Energy Transmission's portfolio includes operating
