Madison Energy Infrastructure Acquires NextEra's US Distributed Generation Assets, Boosting Renewable Portfolio to Over 1GW
Madison Energy Infrastructure, owned by EQT Infrastructure, has made a significant move in the renewable energy sector. The company has acquired the US distributed generation assets of NextEra Energy Resources, a subsidiary of one of the USA's largest utilities. This acquisition brings Madison's total renewable energy assets in the USA to over 1GW.
The acquired portfolio includes operational solar and energy storage assets, development projects across 25 states, and associated teams. This deal is a major milestone for Madison, as stated by its CEO, Richard Walsh. The company recently secured a USD800 million debt facility for project development and growth, demonstrating its commitment to expansion.
In November 2023, Madison bought Pro-Tech Energy Solutions to expand its corporate and industrial (C&I) sector offerings. This strategic move complements the recent acquisition, further strengthening Madison's position in the renewable energy market.
NextEra Energy Resources, the seller, is no stranger to large-scale solar projects. Its subsidiary, Florida Power & Light, added 2.2GW of new solar assets in 2024. Meanwhile, Meta, a major tech company, commissioned a new solar power plant with a capacity of 2.2 gigawatts in Louisiana in June 2024 as part of its data center complex development in Richland Parish. These developments reflect the growing demand for renewable energy sources.
Madison Energy Infrastructure's acquisition of NextEra Energy Resources' US distributed generation assets is a significant step in the company's growth. With over 1GW of renewable energy assets now in its USA portfolio, Madison is well-positioned to contribute to the country's clean energy transition. The company's recent financial backing and strategic acquisitions indicate a robust commitment to the renewable energy sector.
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