Hunton Andrews Kurth LLP advised Duke Energy Florida, LLC on a SEC-registered offering of $700 million aggregate principal amount of First Mortgage Bonds, 2.50% Series due 2029.
The Company intends to use an amount equal to the net proceeds of the offering to pay or reimburse the payment of, in whole or in part, existing and new eligible green expenditures in the United States, which are expenditures associated with solar energy and battery storage investments, including expenditures relating to the development, construction, acquisition and operation of solar energy and utility-scale battery storage projects.
Duke Energy Florida, a Florida limited liability company and an indirect wholly-owned subsidiary of Duke Energy Corporation, is a regulated public utility primarily engaged in the generation, transmission, distribution and sale of electricity in portions of Florida. The Company’s service area covers approximately 13,000 square miles and supplies electric service to 1.8 million residential, commercial and industrial customers. As of December 31, 2018, the Company’s asset portfolio included approximately 10,238 megawatts of owned generation capacity, 48,100 miles of distribution lines and 4,897 miles of transmission lines.
The Hunton Andrews Kurth team included Peter O’Brien (Picture), Christina Kwon, Brendan P. Harney, and Michelle Chan. Robert McNamara provided tax advice.
Law Firms: Hunton Andrew Kurth;
Clients: Duke Energy Florida, LLC;