Duke Energy Agrees To Sell Utility-scale Commercial Renewables Business To Brookfield For Enterprise Value Of $2.8B
Portfolio Pulse from Benzinga Newsdesk
Duke Energy has agreed to sell its utility-scale commercial renewables business to Brookfield for an enterprise value of $2.8 billion. Duke Energy expects net proceeds of approximately $1.1 billion, which will be used to strengthen its balance sheet and avoid additional holding company debt issuances.
June 12, 2023 | 8:17 pm
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POSITIVE IMPACT
Brookfield's acquisition of Duke Energy's utility-scale commercial renewables business for $2.8B will expand its renewable energy portfolio.
The acquisition of Duke Energy's renewables business will expand Brookfield's renewable energy portfolio, which is a positive development for the company and its shareholders. This acquisition aligns with Brookfield's focus on renewable energy and will likely contribute to the company's growth in the sector.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Duke Energy's sale of its renewables business to Brookfield for $2.8B will result in $1.1B net proceeds, strengthening its balance sheet and avoiding additional debt.
The sale of Duke Energy's renewables business will provide the company with significant net proceeds, which will be used to strengthen its balance sheet and avoid additional debt. This is a positive development for the company and its shareholders, as it will improve the company's financial position and reduce its risk profile.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100