Kirkland Advises Brookfield on Investment in Duke Energy Florida for $6 Billion
Kirkland & Ellis advised leading global infrastructure company Brookfield on a definitive agreement to acquire a 19.7% interest in Duke Energy Florida for $6 billion. Duke Energy will remain the majority owner and sole operator of Duke Energy Florida. The transaction was announced August 5, 2025.
As part of the transaction, Brookfield will invest in Florida Progress, which owns all of Duke Energy Florida. Brookfield will acquire its interest in Duke Energy Florida in phases, with Florida Progress receiving $2.8 billion at the first closing expected to occur in early 2026 and $200 million by the end of 2026. An additional $2 billion will be received in 2027 and the remaining $1 billion will be received in 2028. Brookfield has the option to acquire its interest sooner. Brookfield will receive certain rights commensurate with its ownership interest. The transaction is subject to customary closing conditions, including regulatory approval.
Read the transaction press release
The Kirkland team included corporate lawyers Brittany Sakowitz, Kim Hicks, Chandler Spinks and Cat Leveque; debt finance lawyers Roald Nashi, Greg Howling and Jacqueline Trudeau; and energy regulatory lawyer John Decker.
