NextEra Water completes the acquisition of Texas water and wastewater systems

JUNO BEACH, Fla., July 13, 2022 /PRNewswire/ -- NextEra Water Texas, LLC, an indirect subsidiary of NextEra Energy Resources, LLC, announced that it has completed the previously announced acquisition of a portfolio of rate-regulated water and wastewater utility assets in eight counties near Houston, Texas, from Quadvest, L.P.

"This acquisition marks our first purchase of water and wastewater assets and furthers our strategy to build a world-class water utility in the coming years," said Bruce Hauk, president of NextEra Water. "We are committed to meeting high standards for the operation of these assets and providing exceptional service to community residents and businesses."

Through this transaction, NextEra Water acquired a portfolio of 23 water and five wastewater utility systems located in the counties of Aransas, Brazoria, Fort Bend, Harris, Jackson, Matagorda, Montgomery and Waller. The approximately 2,700 customers are now being served by NextEra Water Texas.

In addition, NextEra Water previously announced that it has entered into an agreement to purchase the wastewater system owned by Towamencin Township in Montgomery County, Pennsylvania. Assuming timely regulatory approval, the sale is targeted to close in the second half of 2023.

NextEra Water
NextEra Water and its affiliate, NextEra Water Texas, LLC, are regulated water and wastewater utilities that pursue opportunities to acquire, develop, build and operate potable water, wastewater and reclaimed water utilities projects. To learn more, visit www.NextEraWater.com

SOURCE NextEra Water