NextEra Energy Resources has acquired a 49% ownership stake in the Florida Energy Pathway project from Chesapeake Utilities Corporation. Chesapeake Utilities will retain a 51% majority interest and continue to manage, construct, and operate the pipeline. Financial terms of the deal were not disclosed.
The $1.2 billion infrastructure project aims to increase natural gas transportation capacity for South Florida. The pipeline will serve growing energy demand across a region spanning from Palm Beach County to Miami-Dade County.
Construction is scheduled to begin in the first half of 2028. The project is expected to be fully operational by 2030.