04:35 AM EST, 01/28/2025 (MT Newswires) -- Eversource Energy ( ES ) said Monday that it has entered into a definitive agreement to sell Aquarion Water Company to the Aquarion Water Authority for an enterprise value of about $2.4 billion.

Aquarion serves nearly 250,000 water and wastewater customers in 72 cities and towns across Connecticut, Massachusetts, and New Hampshire.

Eversource plans to use the proceeds to pay down parent company debt and reinvest capital into its core electric and natural gas businesses.

The company expects to record a loss on the planned sale of Aquarion of about $300 million in its Q4 results.

The transaction is subject to regulatory approvals and is expected to close in late 2025.