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 nearly 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.