NextEra Energy Buys 49% Stake in Florida Gas Project

NextEra Energy Resources acquired a 49% stake in the Florida Energy Pathway, a $1.2 billion natural gas transmission infrastructure project. The stake was sold by Peninsula Pipeline Holdings, a unit of Chesapeake Utilities.

The project aims to resolve regional supply constraints and expand transportation capacity in South Florida. The pipeline will run from Palm Beach County to Miami-Dade County and is currently supported by nearly 250,000 dekatherms per day of firm shipping commitments.

Peninsula Pipeline Holdings retains a 51% stake in the venture and remains responsible for the construction and operation of the intrastate pipeline. Construction is scheduled to begin in the first half of 2028, with the pipeline projected to enter service in 2030.