04:25 PM EDT, 04/04/2024 (MT Newswires) -- Duke Energy ( DUK ) said late Thursday that it agreed to sell its 50% ownership interest in Pioneer Transmission to John Laing Group, an investor and manager of infrastructure assets.

The company plans to use the proceeds to invest in clean energy transition in its utilities.

The transaction will likely close by year-end. The financial details were not disclosed.

Pioneer is a 42.5-mile, 765-kilovolt transmission line in Indiana.