Madison Energy Infrastructure acquires NextEra Energy’s distributed generation business

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Madison Energy Infrastructure, a clean energy project developer and asset owner primarily focused on solar and energy storage, acquired NextEra Energy’s distributed generation business, which is among the world’s largest electric utilities with a market cap north of $160 billion.

The acquisition includes NextEra’s active portfolio of solar and storage facilities as well as its pipeline of projects across 25 states. NextEra’s distributed generation team will join Madison as part of the acquisition.

With the acquisition, Madison’s assets totals nearly 1 GW of operating clean energy infrastructure assets serving hundreds of customers —including Fortune 500 businesses, K-12 schools, industrial and manufacturing facilities, electric cooperatives, and municipal utilities and others.

The transaction follows Madison’s announcement in September that it secured an $800 million construction-to-term debt facility to support the expansion and deployment of clean energy infrastructure to customers and partners across the U.S.

“We believe clean energy infrastructure is a foundational part of our economic future and this facility reflects Madison’s commitment to serving our customers and partners for decades to come,” said Steve Cunningham, co-founder and chief financial officer. Madison, upon announcement of the funding.

NextEra Energy has a 72 GW operating portfolio that is 55% renewable energy, 36% natural gas, 8% nuclear and 1% other sources. Its distributed generation unit totaled over 900 MW of distributed solar and energy storage as of mid 2024 had a development pipeline of just over 1 GW.

Madison offers its clients evaluations of clean energy services and solutions, including onsite solar and energy storage, larger offsite projects, environmental attributes, sustainability reporting, and tax equity financing.

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