A group led by US renewables major Invenergy has set the seal on a $1.5bn deal to buy a 1.35GW portfolio of unregulated, contracted wind and solar power projects spread across 11 states from American Electric Power (AEP).

Through the buy-up, IRG Acquisition Holdings – made up of Invenergy with a 20% stake, Canadian institutional investor CDPQ (Caisse de dépôt et placement du Québec) and funds managed by Blackstone, each with 40% shares – will add 14 renewables developments to its books.