Brookfield’s new partnership with Duke Energy is anything but boring. Collectively, they’re winning a record $6 billion investment to expand their footprint in the Sunshine State. This tactically necessary move will ensure Duke Energy can maintain majority control, with an 80.3% ownership interest in Duke Energy Florida. Together with this investment, the company is well-positioned for long-term growth. Further, it deepens its promise to provide dependable energy services across the state.
Under this deal, Duke Energy will let Duke Energy Florida be independently operated. They will be the ones to protect and maintain the company’s long-established business model, infrastructure and services. In February 2025, Duke Energy Florida disclosed plans to develop four new solar energy sites, which will contribute an additional 300 megawatts (MW) of capacity to the electric grid. The move continues the company’s larger push to grow its renewable energy presence in the area.
Investment and Future Growth
This deal will net huge piles of cash for Duke Energy. By 2029, the company’s cumulative capital investments in Florida will top $16 billion. This investment will be funneled through Florida Progress, the leech-like parent company of Duke Energy Florida. In addition, approximately $4 billion of the proceeds will be utilized to reduce Duke Energy’s corporate-level debt, further strengthening its financial position.
In a statement, Harry Sideris, a representative from Duke Energy, said they were excited about the partnership.
“We are pleased to have Brookfield, a highly regarded infrastructure investor, as a long-term partner in Duke Energy Florida. This significant transaction at a compelling valuation best positions Duke Energy to unlock additional capital investments in Duke Energy Florida during this unprecedented growth period.” – Harry Sideris
The partnership is consistent with Brookfield’s Super-Core Infrastructure strategy, which focuses on investing in high-quality regulated utilities. This improved alignment speaks to both companies’ shared passion for improving America’s energy services, all while creating a scalable, sustainable model.
Commitment to Renewable Energy
Duke Energy’s plans for solar energy development represent a critical step toward meeting the increasing demand for clean and renewable energy. Each of the new solar sites will contribute 300 MW of electricity to the state’s electric grid. This infusion will enhance the reliability of the grid and assist in reaching more significant environmental objectives.
Sam Pollock, CEO of Brookfield Infrastructure Group, expressed his enthusiasm for the joint venture.
“We are delighted to partner with Duke Energy in a critical business and premier regulated utility like Duke Energy Florida through Brookfield’s Super-Core Infrastructure strategy. We look forward to supporting the continued growth of Duke Energy Florida’s regulated asset base and, accordingly, ensuring excellent service delivery for its customers.” – Sam Pollock
Duke Energy’s announcement is their largest single investment in renewable energy to date. This long-term dedication will not only help solidify its competitive edge in the market, but make Florida’s energy landscape much brighter.
Enhancing Financial Stability
This tactical investment goes beyond winning short-term benefits. It translates into decades of positive cash flow for Duke Energy. Cleaning up the company’s corporate-level debt will increase the company’s overall credit profile. This big step forward will allow the utility to pour cash into more ambitious energy modernization plans across its full footprint.
Duke Energy has submitted its 2025 Solar Base Rate Adjustment proposal to the Florida Public Service Commission, signaling its commitment to maintaining affordability for customers while pursuing innovative energy solutions.
