Chesapeake Utilities JV Adds NextEra Energy Resources With 49% Stake in Florida Pathway
Chesapeake Utilities formed a joint venture for the Florida Energy Pathway project with NextEra Energy Resources holding a 49% stake and Chesapeake retaining 51% under an amended and restated LLC agreement. Chesapeake will build and operate under a COM agreement, and both partners provide capital contribution guaranties, including Chesapeake at about $109 million and NextEra Energy Capital at about $105 million.