For two years, the Canadian-based owners of Cleco Power have been trying to sell the utility. Now, it has a deal in place to do just that. Macquarie Infrastructure and Real Assets has reached a deal to sell the company to Stonepeak Energy and Bernhard Capital Partners. Jennifer Cahill with Cleco says the company’s leadership team fully supports the deal.
“It is one that’s in the best interest of our employees, our customers, our owners and the many communities that we serve throughout Louisiana,” Cahill said.
Cahill says Cleco will be in good hands with its new owners.
“Stonepeak and Bernhard are strong capital partners with a deep expertise and critical infrastructure, and they have a presence in Louisiana,” Cahill noted.
Cleco is headquartered in Pineville and is the city’s biggest employer. Pineville Representative Mike Johnson says those people can rest easy, knowing that the new owners will honor the resolution that the legislature adopted last year strongly requesting that the company’s headquarters remain in the city.
“Selling to a company that’s made a commitment to maintain all of the jobs that are currently there in Central Louisiana, and to keep the compensation benefits comparable to what it is now,” Johnson explained.
Johnson says furthermore, Cleco’s customers should notice no difference in not only the reliability of their electric service, but also their electric rates – and the Public Service Commission will hold the new owners to that.
“We want to be very clear that the PSC not approve anything that would result in increased electric charges to our members,” Johnson said.
The Public Service Commission will have the final say on the sale, and there’s no word on when it will be finalized.