Renewables developer Madison Energy Infrastructure has bought the US distributed generation assets of NextEra Energy Resources.
The portfolio comprises solar and energy storage assets, development projects across 25 states and the teams associated with NextEra Energy’s distributed business, Madison said.
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With this acquisition, the company, which is owned by international investment group EQT Infrastructure, now has over 1GW of renewable energy assets across the US. Madison Energy Infrastructure recently secured a US$800 million debt facility to support its project development and growth strategy.
In November 2023, it also bought Pro-Tech Energy Solutions, a corporate and industrial (C&I) sector engineering, procurement and construction (EPC) solar firm to expand its C&I offering.
“Today’s announcement represents a significant milestone in Madison’s journey to deliver exceptional value to leading businesses and communities across the US,” said Richard Walsh, CEO of Madison
As a subsidiary of one of the US’ largest utilities, NextEra Energy Resources owns and develops gigawatts of solar and energy storage assets across different market segments. Its parent company, NextEra Energy, aims to have over 80GW of solar and energy storage assets in its portfolio by 2027, and NextEra Energy Resources’ subsidiary, the utility Florida Power & Light, added 2.2GW of new solar assets in 2024.
The sale of its distributed asset portfolio could see the utility focus more on utility-scale renewables. In June, NextEra commissioned the 100MW Amite solar project in Louisiana.
