Dominion Energy (pending)
2026
$66.8B
Why
All-stock combination announced May 18, 2026, reported at about $66.8 billion; adds regulated utilities in Virginia, North Carolina and South Carolina. Expected to close mid-to-late 2027.
NextEra Energy, Inc.
Regulated Electric Utilities and Renewable Energy GenerationFounded 1984- HQ today: Juno Beach, Florida
Reviewed by Swet Parvadiya
Company data updated: October 2026
Acquisitions
NextEra Energy Acquisitions
3
Major Deals Covered
$66.8B
Disclosed Deal Value
What are NextEra Energy's biggest acquisitions?
NextEra Energy's largest disclosed acquisition here is Dominion Energy (pending) for $66.8B in 2026. This page covers 3 major deals from 1985 to 2026, each with its price where disclosed and the reason behind it.
- Major deals covered
- 3
- Largest deal
- Dominion Energy (pending) ($66.8B)
- First deal
- 1985
- Most recent
- 2026
| Company | Year | Price | Purpose |
|---|---|---|---|
| Colonial Penn Group | 1985 | Undisclosed | FPL Group bought the insurance company as part of a diversification push outside the utility; it was later sold as the company refocused on energy. |
| Gulf Power | 2019 | Undisclosed | Purchase of Northwest Florida utility Gulf Power from Southern Company, later merged into FPL. |
| Dominion Energy (pending) | 2026 | $66.8B | All-stock combination announced May 18, 2026, reported at about $66.8 billion; adds regulated utilities in Virginia, North Carolina and South Carolina. Expected to close mid-to-late 2027. |
- What companies has NextEra Energy bought?
- Major acquisitions by NextEra Energy documented here include Dominion Energy (pending) (2026), Gulf Power (2019) and Colonial Penn Group (1985).
- What is NextEra Energy's most recent acquisition?
- The most recent NextEra Energy acquisition documented here is Dominion Energy (pending), in 2026, for $66.8B.
Gulf Power
2019
Why
Purchase of Northwest Florida utility Gulf Power from Southern Company, later merged into FPL.
Colonial Penn Group
1985
Why
FPL Group bought the insurance company as part of a diversification push outside the utility; it was later sold as the company refocused on energy.
NextEra Energy, Inc.'s Growth & Acquisition Strategy
NextEra is positioning itself as a supplier of power for data centers and electrification across every major technology. Key moves: a 25-year agreement with Google to restart the 615 MW Duane Arnold nuclear plant, backed by a DOE loan of up to $1.9 billion closed in September 2026; continued build-out of solar plus battery storage at both FPL and NEER; gas generation and pipeline investment; and the proposed Dominion merger, which adds regulated utilities in Virginia, North Carolina and South Carolina.
How NextEra Energy, Inc. Makes Money
NextEra makes money in two ways. Florida Power & Light earns a regulated return on the generation, transmission and distribution assets it builds for Florida customers; the Florida Public Service Commission sets its base rates and allowed return on equity, so FPL earnings grow as its rate base grows. NextEra Energy Resources develops and owns competitive generation and storage, then sells the electricity and capacity mostly through long-term power purchase agreements with utilities, co-ops and corporate buyers. It also earns from natural gas pipelines, transmission (NextEra Energy Transmission), nuclear plants, and customer supply and trading activities. Federal tax credits on renewable and storage projects are an important part of NEER project economics.
NextEra Energy Acquisitions FAQ
What was NextEra Energy's acquisition of Gulf Power Company in 2019?
In January 2019, NextEra Energy completed the $6.475 billion acquisition of Gulf Power Company and other assets from Southern Company, integrating Northwest Florida's electric utility into FPL in 2021 to lower customer bills and modernize the Panhandle energy grid.
How did NextEra Energy acquire GridLiance in 2021 to expand regulated electric transmission?
In March 2021, NextEra Energy Transmission acquired independent electric transmission company GridLiance for approximately $660 million, adding over 700 miles of high-voltage transmission lines across six states (including MISO, SPP, and CAISO regions).
What was the attempted acquisition of Hawaiian Electric Industries in 2014-2016?
NextEra proposed a $4.3 billion acquisition of Hawaiian Electric Industries (HEI) in 2014 to accelerate Hawaii's 100% renewable goal, but terminated the merger in 2016 after the Hawaii Public Utilities Commission rejected the transaction.
What was NextEra's attempted acquisition of Oncor Electric Delivery in Texas in 2017?
In 2017, NextEra sought to acquire Texas transmission giant Oncor for $18.7 billion out of bankruptcy, but walked away after the Public Utility Commission of Texas rejected governance terms, allowing Sempra Energy to acquire Oncor instead.
How did NextEra acquire City of Vero Beach's municipal electric utility in 2018?
In 2018, FPL acquired the municipal electric utility of the City of Vero Beach, Florida, for $185 million, immediately reducing electric rates by over 20% to 30% for 34,000 municipal customers by integrating them into FPL's low-cost system.
What renewable project portfolio acquisitions has NextEra Energy Resources executed?
NEER routinely executes bolt-on acquisitions of operating wind farms, ready-to-build solar pipelines, and battery storage project rights from independent developers across Texas, the Midwest, California, and the PJM interconnection region.
Why did NextEra Energy divest its non-core natural gas pipeline assets in 2023?
In late 2023, NextEra Energy Partners agreed to sell its Texas natural gas pipeline portfolio to Kinder Morgan for $1.815 billion, redeploying capital to transition into a 100% pure-play renewable energy company.
What is NextEra's strategic M&A criteria for utility and transmission targets?
NextEra pursues acquisitions that are accretive to earnings, expand regulated rate-base scale, provide clear operational synergies through FPL's low-cost operating playbook, and maintain NextEra's strong investment-grade balance sheet.
Why was the $6.4 billion acquisition of Gulf Power in 2019 significant?
In January 2019, NextEra acquired Gulf Power from Southern Company for $6.4 billion. The transaction added northwest Florida to NextEra's regulated utility territory, which was subsequently integrated into FPL to create a unified state-wide utility grid with lower operating costs and modernized solar generation.
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