By Josh Beckerman

 

NextEra Inc. agreed to buy GridLiance, an electric transmission company backed by Blackstone Group LP, for about $660 million including assumed debt.

Dallas-based GridLiance operates more than 700 miles of transmission lines and related substations in Illinois, Kansas, Kentucky, Missouri, Nevada and Oklahoma. It recently completed a transaction with Winfield, Kansas, that marked its first co-ownership of transmission assets with a municipal utility.

NextEra said it expects to close the deal in 2021, assuming timely regulatory approvals.

 

Write to Josh Beckerman at josh.beckerman@wsj.com

 

(END) Dow Jones Newswires

September 29, 2020 17:19 ET (21:19 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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