Duke Energy Boosts Infrastructure Spending to $87 Billion, Sells 19.7% Florida Stake to Brookfield for $6 Billion, $2B for Capex, Debt Cut

Duke Energy announced plans to increase its infrastructure investments to $87 billion to address rising electricity demand, driven in part by AI-related consumption. To support this expanded capital expenditure plan, Duke Energy will sell a 19.7% indirect stake in its Florida utility business to Brookfield Asset Management for $6 billion in cash. Of the proceeds, $2 billion will be allocated to fund the increased $87 billion capital spending, while the remaining amount will be used to reduce debt. The deal with Brookfield involves a phased acquisition of the equity interest and is said to represent a premium over Duke Energy's current public equity valuation. Separately, Ameren Corporation's Illinois unit received approval for a $1.6 billion project to build and upgrade 380 miles of power lines across 13 counties to enhance energy access. Additionally, PG&E has proposed power equipment upgrades to support a Microsoft data hub.