04:41 PM EDT, 03/25/2024 (MT Newswires) -- FirstEnergy ( FE ) said late Monday it closed the sale of an additional 30% ownership interest in its FirstEnergy Transmission subsidiary to Brookfield Super-Core Infrastructure Partners for $3.5 billion.

The parent company said it received $2.3 billion of cash proceeds at closing, with the remaining $1.2 billion in interest-bearing notes from Brookfield likely to be paid off by the end of this year.

FirstEnergy ( FE ) plans to use the proceeds to further "strengthen" its balance sheet and support a five-year, $26 billion grid investment program.