Feb 26 (Reuters) – Utility NextEra Energy said on Thursday it will conduct a public offering of $2 billion in equity units to fund investments in energy and power projects. U.S. utilities have been investing billions of dollars to upgrade the country’s electric grid as the rapid build-out of data centers drives up power consumption […]
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NextEra Energy to sell $2 billion of equity units to fund energy projects
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Feb 26 (Reuters) – Utility NextEra Energy said on Thursday it will conduct a public offering of $2 billion in equity units to fund investments in energy and power projects.
U.S. utilities have been investing billions of dollars to upgrade the country’s electric grid as the rapid build-out of data centers drives up power consumption to record highs.
Shares of the company were down nearly 1% in premarket trading.
NextEra said it expects to grant the underwriters an option to purchase an additional $300 million worth of equity units to cover any over-allotment.
Each equity unit will be issued at a value of $50, consisting of a contract to purchase NextEra Energy common stock within three years, the company said in a statement.
Wells Fargo Securities, BofA Securities, Citigroup and Mizuho will serve as joint book-running managers for the offering.
(Reporting by Dharna Bafna in Bengaluru; Editing by Vijay Kishore)