Duke Energy selling stake in Pioneer Transmission joint venture to John Laing

Duke Energy has reached an agreement to sell its 50% ownership interest in Pioneer Transmission to John Laing Group, an international investor and active manager of core infrastructure assets. Pioneer, a joint venture with American Electric Power (AEP), is a 42.5-mile, 765-kilovolt transmission line with its associated substation assets. The line was placed in service in 2018 and extends from Greentown Station to Reynolds Station – west of Lafayette, Ind. Pioneer is independent of Duke Energy Indiana. Duke Energy will use the proceeds from the sale to invest in its clean energy transition in its state-regulated utilities. The transaction is expected to close by year-end 2024 and is subject to customary closing conditions.