MERRILLVILLE, Ind. (WOWO):  Merrillville-based NiSource has cleared a key hurdle in the proposed sale of a minority interest in its Northern Indiana Public Service Co. subsidiary, better known as NIPSCO.  The $2.1 billion deal has received approval from the Federal Energy Regulatory Commission. According to Inside Indiana Business back in June, NiSource announced plans to sell a 19.9% equity interest in NIPSCO to an affiliate of New York-based Blackstone Infrastructure Partners.

NiSource previously said Blackstone is committed to investing in NIPSCO’s ongoing energy transition and decarbonization programs. The company said approval from the FERC is the only regulatory approval required for the deal. NiSource CFO Shawn Anderson said in a news release that the company is pleased to received the approval. The transaction is expected to close by the end of the year. When it does, NiSource will own the remaining 80.1% interest in NIPSCO.