Chesapeake Utilities Sells Stake in Florida Energy Pathway Project

Chesapeake Utilities Corporation has announced that it will sell a 49% ownership interest in the Florida Energy Pathway (FEP) project to NextEra Energy Resources. The FEP is a natural gas transmission infrastructure project designed to support South Florida's growing energy needs.

The project, which is expected to be constructed from Palm Beach County to Miami-Dade County, will expand natural gas transportation capacity and address regional supply constraints. The total investment in the project is estimated to be around $1.2 billion, pending finalization of design and development activities.

Chesapeake Utilities Corporation will retain 51% ownership of the project through its subsidiary Peninsula Pipeline Holdings, LLC. NextEra Energy Resources will take on a minority interest in the project through this acquisition.