American Electric Power (AEP) has obtained federal regulatory approvals for sale of a 1.35GW portfolio of 14 solar and wind power projects to a US-Canadian group, with the $1.5bn transaction “on track” to close later this quarter, according to the Ohio-based utility.
The sale is among the largest announced this decade in the US for contracted clean generation assets, as AEP along with several other prominent utilities move to focus on lower risk regulated investments that can produce higher and more predictable financial returns.
