NextEra Energy (NEE) signed a definitive agreement to acquire Dominion Energy (D) for approximately $62.4 billion. The merger creates one of North America’s largest regulated utility and clean energy companies. The companies aim to leverage clean energy expertise to meet rising power demand from data centers and industrial growth.
The two-step merger will make Dominion Energy a wholly-owned subsidiary of NextEra. Dominion shareholders will receive a combination of cash and NextEra common stock. The acquisition requires approval from both sets of shareholders and regulators, including the Federal Energy Regulatory Commission (FERC).
NextEra subsidiary Florida Power & Light concurrently agreed to a $150 million class-action settlement involving past political controversies. This move aims to resolve potential obstacles before the acquisition. The deal reflects a broader utility sector trend of consolidating to manage the energy transition and upgrade aging infrastructure.