MVP Co-Owner NextEra Takes 49% of $1.2B South Florida Pipe

Six weeks after announcing it would sell up to 49% of its $1.2 billion Florida Energy Pathway pipeline (see Chesapeake Utilities Plans $1.2B South Florida Pipe – Ohio Angle), Chesapeake Utilities Corporation (NYSE: CPK) has found its partner — and it's a name Marcellus and Utica readers will recognize. On September 1, Chesapeake Utilities said its indirect subsidiary Peninsula Pipeline Holdings, LLC sold a 49% minority interest in the Florida Energy Pathway (FEP) to NextEra Energy Resources (NEER). Peninsula keeps 51% and control. The joint venture then hired Peninsula Pipeline Company, Inc. — another Chesapeake Utilities subsidiary — to build, manage, and operate the line.

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