Cleco Corporation

What Cleco Corporation does

Cleco Corporation, headquartered in Pineville, Louisiana, is a regulated electric utility serving approximately 295,000 residential, commercial, industrial, and agricultural customers across 24 Louisiana parishes. Founded in 1935 as Louisiana Ice & Electric Company (later renamed Central Louisiana Electric Company), the company operates today through its core subsidiary Cleco Power, which generates, transmits, and distributes electricity via 8 generating units at 5 facilities providing 2,676 MW of rated capacity (plus 946 MW operated for generation partners). The grid is supported by 1,387 miles of transmission lines and 12,319 miles of distribution lines. In April 2026, Stonepeak Partners LP and Bernhard Capital Partners agreed to acquire Cleco from a Macquarie-led consortium for more than $5 billion in enterprise value, with Stonepeak taking the majority interest; the prior consortium had owned the company since 2016 and deployed approximately $3 billion into resiliency investments during its hold.

The product portfolio centers on retail electricity distribution regulated by the Louisiana Public Service Commission, supplemented by clean energy and efficiency programs including the GO Cleco Solar subscription program, the Power Wise Energy Efficiency Program, residential and commercial EV charging incentives, agricultural electrification services, time-of-use (TOUCH) pricing pilots, and storm/outage management services via SMS-based notifications and an outage map. Cleco maintains one of the lowest electric bills in the nation and has met or exceeded LPSC reliability standards for 27 consecutive years, achieving 99.9% customer uptime. In November 2025, the LPSC unanimously approved the largest grid resiliency investment in company history — a five-year, $400M+ plan comprising over 550 hardening projects. The company has positioned itself to capture emerging load growth from data centers, most notably through a 2026 agreement to supply 300 MW of critical IT load to Applied Digital's $3.6 billion Delta Forge 1 AI factory campus in Rapides Parish.

Cleco's go-to-market is direct: it operates as a regulated monopoly in its service territory, selling electricity through customer service centers (13 offices across Louisiana), dedicated account managers for commercial and industrial segments, and digital channels (MyAccount portal, website, social media). Revenue is generated primarily through usage-based retail rates approved by the LPSC, supplemented by wholesale power sales to other Louisiana utilities, subscription-based solar program fees, connection and reconnection fees, and economic development rate arrangements for large industrial customers. Customer segments are organized horizontally across residential (primary), commercial, industrial, and agricultural use cases, with industrial and data center customers representing the principal growth vector under the new ownership.

Name

Cleco Corporation

Legal name

Cleco Corporate Holdings LLC

Website

https://cleco.com

Company type

Private

Founded year

1935

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Cleco Corporation is a regulated electric utility headquartered in Pineville, Louisiana, serving approximately 295,000 residential, commercial, industrial, and agricultural customers across 24 parishes via 2,676 MW of generating capacity. Acquired by Stonepeak Partners and Bernhard Capital Partners in 2026.

Ownership category

akta.pro rank

Product category

Regulated Electric Utility

NAICS

Electric Power Distribution (221122), Electric Power Transmission, Control, and Distribution (22112), Electric Power Generation, Transmission and Distribution (2211)

SIC

Electric Services (4911), Electric, Gas & Sanitary Services (4900)

akta.pro primary industry

Multi-Utility Distribution Companies (Electric + Gas/Water Distribution) (EUADABAJ)

akta.pro secondary industries

Network Upgrades & Capacity Additions (Reconductoring, Rebalancing, Voltage Optimization) (EUAEACAN), Substation & Interconnection EPC (Collector/POI Substations, Switchyards) (EUAEADAC), Pole, Tower & Structure Installation / Replacement (Distribution) (EUAEACAE)

Keywords

• Electric utility service
• Power generation distribution
• Energy efficiency programs
• Solar subscription program
• Grid resiliency infrastructure

Headquarters

HQ city

Pineville

HQ country

United States

HQ region

North America

Offices19 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Infrastructure, Operations, Supply Chain, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Retail Electricity Sales: Sale of electricity to approximately 295,000 residential, commercial, and industrial customers across 24 Louisiana parishes. Revenue is regulated by the Louisiana Public Service Commission with rates reviewed and approved by the state regulatory agency.
2. Wholesale Power Sales: Supply of wholesale power in Louisiana to other utilities and power providers.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

Cleco Corporation operates as a regulated electric utility through its primary subsidiary Cleco Power, generating, transmitting, and distributing electricity to approximately 295,000 residential, commercial, and industrial customers across 24 Louisiana parishes. The company owns 8 generating units at 5 facilities with 2,676 megawatts of rated capacity, 1,387 miles of transmission lines, and approximately 12,319 miles of distribution lines. Cleco also offers complementary programs including solar subscriptions, energy efficiency rebates, EV charging incentives, agricultural electrification, storm restoration, and customer assistance programs.

Product overview

Cleco Corporation operates as a regional energy holding company through its primary subsidiary Cleco Power, a regulated electric utility. The company provides electric generation, transmission, and distribution services to approximately 295,000 customers across 24 Louisiana parishes. The product portfolio centers on the core Electric Utility Service, complemented by clean energy and efficiency programs including the GO Cleco Solar Program for solar subscriptions, Power Wise Energy Efficiency Program, Residential and Commercial EV Charging Incentives, and Agricultural Electrification services. Additional offerings include Storm Center Services, Customer Assistance Programs, Text Notification Service, and various Rate Schedules and Billing options. The company also supports generation interconnection for co-generation, qualifying facilities, merchant providers, and other parallel operations.

Differentiator

Problem solved

Functional benefit

Products and services

• Electric Utility Service Regulated electric utility service providing generation, transmission, and distribution of electricity to residential, commercial, and industrial customers across 24 Louisiana parishes through Cleco Power.
• GO Cleco Solar Program Optional solar energy subscription program allowing customers to subscribe to solar capacity from a Louisiana utility-scale solar facility and earn renewable energy credits with no upfront costs or long-term contracts.
• Power Wise Energy Efficiency Program Energy efficiency program offering residential and commercial rebates for appliance upgrades, home weatherization assessments, and commercial energy-saving solutions.
• Residential EV Charging Incentives Program offering $250 rebates for Level 2 EV charger installation at residential locations, covering approximately 50% of equipment costs.
• Commercial EV and Fleet Electrification Commercial EV charging and forklift electrification program offering free fleet assessments and up to $3,500 in incentives for EV chargers and equipment.
• Agricultural Electrification Program helping farmers convert diesel-powered irrigation systems to electric pumps, offering line extension support and irrigation rate schedules for sugarcane, rice, soybeans, and crawfish operations.
• Storm Center Services Storm preparedness and power restoration services including outage mapping, text notifications, and priority restoration for critical facilities.
• Customer Assistance Programs Low-income assistance including Budget Billing, CARE Program (25% fuel discount), Critical Care Alerts, Power of Sharing Fund, LIHEAP, and weatherization services.
• Text Notification Service SMS-based notification service allowing customers to report outages, check bill status, and receive outage alerts via text commands.
• Rate Schedules and Billing Services Various rate codes and rider schedules including residential, general service, large power, TOUCH time-of-use pilot program, distributed generation, and electric vehicle charging station options.

Quantifiable outcome

• 99.9% customer uptime maintained
• +2 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Applied Digital CorporationcoreStrategic or Co-development Partner · 26 May 2026Cleco will provide power infrastructure for Applied Digital's $3.6 billion Delta Forge 1 AI factory campus in Rapides Parish. The campus will have 300 megawatts of critical IT load. Cleco's role is essential infrastructure for the data center operation.
• Edison Electric Institute (EEI)minorOthersCleco participates in EEI events and activities as a member of the trade association for investor-owned electric utilities.
• Louisiana One CallminorOthersCleco is a member of Louisiana One Call, a nonprofit organization that allows notification of underground facility owners before digging.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Entergy Corporation: Investor-owned regulated electric utility with a major service presence across Louisiana, including overlapping Louisiana parish territories. Closest direct comparable on geography, customer mix and regulatory exposure to the Louisiana Public Service Commission.
• Southwestern Electric Power Company (SWEPCO): AEP subsidiary providing regulated electric distribution in parts of Louisiana, Arkansas and Texas. Directly comparable as a smaller-scale regulated IOU serving similar rural Louisiana geography and customer types as Cleco.

Broad incumbents

• NextEra Energy: Largest U.S. renewable energy generator and owner of Florida Power & Light, a regulated utility. Comparable as a vertically integrated regulated utility with significant generation, but operates at vastly larger scale and with a renewable-heavy generation mix.
• Duke Energy: One of the largest U.S. regulated electric utilities with vertically integrated generation, transmission and distribution across multiple states. Comparable on regulated utility business model and recent grid resiliency capex, though materially larger and geographically diversified.
• Southern Company: Vertically integrated regulated electric utility serving the Southeast U.S. through subsidiaries including Georgia Power and Mississippi Power. Comparable on integrated utility model, southeast geography and exposure to hurricane-related storm cost cycles.
• Ameren Corporation: Regulated electric and gas utility serving Missouri and Illinois. Comparable as a mid-cap regulated IOU investing in grid modernization, distribution automation and clean energy transitions, though with a different geography and dual-fuel mix.
• DTE Energy: Investor-owned regulated electric and gas utility serving southeast Michigan. Comparable as a mid-cap integrated utility with a heavy grid resiliency capex program and exposure to severe-weather restoration, though in a different region and dual-fuel mix.
• Xcel Energy: Regulated electric and gas utility across eight Midwestern and Western states. Comparable as an integrated utility investing heavily in clean energy and grid hardening, though at much larger scale and broader geographic footprint.
• OGE Energy Corp. Parent of Oklahoma Gas and Electric, a regulated electric utility serving Oklahoma and western Arkansas. Comparable as a mid-cap regulated IOU with similar customer mix, though in a different regulatory jurisdiction without major hurricane exposure.

Regional players

• Allete: Parent of Minnesota Power, a regulated electric utility with significant industrial and renewable generation exposure. Comparable on integrated utility model and significant B2B/industrial customer base, though serving a different region without Louisiana-style hurricane risk.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/clecocorp
• YouTubeyoutube.com/channel/UCM07LAUHcBusIPZFqQe6MAQ/featured
• Facebookfacebook.com/ClecoPower
• LinkedInlinkedin.com/company/cleco
• Instagraminstagram.com/clecocorp/?hl=en

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cleco Corporation