U.S. natural gas utilities holding company Sempra Energy has entered into agreements with electric utility transmission and distribution company Oncor Electric Delivery, a unit of Energy Future Holdings, under which Oncor would acquire 100 percent of the equity interests of electric transmission assets owning and leasing company InfraREIT Inc. for $1.275 billion.
Sempra would acquire a 50 percent limited-partnership interest in a holding company that will own U.S. public electric utility company Sharyland Utilities for approximately $98 million.
On September 20, Sempra Renewables entered into an agreement to sell all of its U.S. operating solar assets, one U.S. wind generation facility and its solar and battery storage development projects to a subsidiary of Consolidated Edison for $1.54 billion.
Sempra said that it expects to utilize its capital from the company’s solar asset sales to significantly expand its regulated Texas utility platform through Oncor’s acquisition of InfraREIT and Sempra’s acquisition of a 50-percent interest in Sharyland. Sempra expects the transaction to be completed in mid- 2019.