Southern Co., which has spent billions of dollars to expand its U.S. utility empire, is now retrenching. The company said Monday it was selling nearly all the assets it owns in Florida to NextEra Energy Inc. for $5.1 billion as it pushes to cut debt from its acquisitions and complete a long-delayed nuclear project. The sale, which includes Gulf Power and Florida City Gas, will allow Southern to trim $3 billion from amount it needs to raise over the next five years. Southern isn’t done. Chief Executive Officer Tom Fanning wouldn’t rule out selling more assets on Monday during a call with analysts. The company expects to raise more than $1 billion by selling a stake of its solar portfolio. And it’s seeking $1 billion in third-party tax equity financing for its wind projects, Fanning said. “They’ve got capital needs,” said Paul Patterson, a utility analyst for […]