U.S. clean energy company NextEra Energy has purchased electric utility company Gulf Power in a $5.75 billion transaction.

The company paid $4.35 billion in cash and assumed $1.4 billion in debt to buy Gulf Power.

The transaction is expected to make provision for expanding to Gulf Power's customers NextEra's value legacy of low bills, high dependability and customer service and clean energy.

Annually, NextEra Energy generates $17.1 billion in revenue whereas Gulf Power generates $18 billion.