US: NEE announced that its subsidiary NextEra Energy Transmission, LLC has completed the acquisition of Trans Bay Cable, LLC (TBC) from affiliates of Steelriver Infrastructure Fund North America.
The acquisition led to further expansion of the company’s transmission operations in California. TBC owns a 85 km (53 mile), high-voltage direct current underwater transmission cable system that extends from Pittsburg to San Francisco, CA. This underground transmission system, which was developed to increase resiliency of the electric grid in that region, supplies nearly 40 % of the electricity used in San Francisco.
NextEra has plans to invest $50-$55 B through the 2019-2022 time period to strengthen existing operations. Of this amount, the company aims to invest $11.5-13.5 B in transmission and distribution projects.
Courtesy of ongoing investments in acquisitions and organic development, NextEra Energy Transmission is expected to double operations by 2022.
Source: Yahoo! Finance