Anterix inked a deal with Tampa Electric, a unit of Emera Inc., providing TECO the use of Anterix’s 900 MHz spectrum throughout the company’s service territory in west central Florida.
The agreement provides TECO dedicated use of the 900 MHz spectrum for 20 years, with two optional ten-year extensions.
Key components of the TECO agreement include:
- Use of 6 MHz of broadband spectrum in TECO’s service area.
- An agreement term of up to 40 years, consisting of an initial term of 20 years, with an option to extend the agreement for two 10-year terms for additional payments.
- Full payment of $34.5 million for the initial 20-year term of the agreement is scheduled to be prepaid in full by mid-2025.
- Approximately $7 million will be paid by the end of fiscal year 2024, while the timing of the remaining payments is subject to Anterix’s delivery of broadband spectrum.
- Delivery of the broadband spectrum is scheduled to commence in fiscal year 2025.
In anticipation of this agreement, Anterix has been proactively clearing incumbents out of the 900 MHz broadband segment in TECO’s service areas to prepare for license applications.