Eversource Energy to Sell Aquarion Water Company for $2.4B
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Eversource Energy announces sale of Aquarion Water Company for $2.4 billion
Eversource Energy Strikes $2.4 Billion Deal to Offload Water Supply Unit
Eversource Energy (ES) agreed to sell its public water supply unit to a local water authority in Connecticut in a deal worth roughly $2.4 billion, as the utility firm looks to focus on its core businesses.
The Connecticut Public Utilities Regulatory Authority (PURA) recently announced updates to its Energy Storage Solutions program, including the opening of
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FuelCell Energy will build a 7.4 MW power plant in Hartford, selling electricity to Eversource and United Illuminating under a 20-year agreement.
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The only thing these high bills have not been blamed on is the people in charge of this state,” said Sen. Ryan Fazio, a Greenwich Republican and member of the Energy and Technology Committee.
One of the reservoirs Aquarion uses to deliver water to Connecticut residents. Photo courtesy of Aquarion Water Co. A not-for-profit,
Eversource Energy said on Monday it has agreed to sell its public water supply unit in a deal valued at $2.4 billion, as the utility firm aims to pare debt and focus on the core electric and natural gas businesses.
Eversource Energy is selling Aquarion Water to a local water authority in Connecticut in a deal with an enterprise value of $2.4 billion. The company said Monday its agreement with the Aquarion Water Authority includes about $1.6 billion in cash and $800 million of net debt that will be extinguished at closing.
Eversource Energy (NYSE:ES) said Monday it agreed to sell Aquarion Water Company to the Aquarion Water Authority for a ~$2.4B total enterprise value, including $1.6B in cash and $800M of net debt. Eversource (ES) said the proceeds from the sale will allow it to pay down parent company debt while reinvesting capital into its core electric and
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