Transactions - SEPTEMBER 14, 2016

Blackstone, ArcLight to buy four AEP power plants for $2.2b

by Zoe Wolff

American Electric Power has agreed to sell four competitive power plants totaling approximately 5,200 megawatts to a newly formed joint venture between The Blackstone Group and ArcLight Capital Partners for $2.17 billion, according to a statement.

The sale includes Lawrenceburg Generating Station in Indiana as well as three plants in Ohio: Waterford Energy Center, Darby Generating Station and Gen. James M. Gavin Plant.

Nicholas Atkins, chairman, president and CEO of AEP, said in a statement, “AEP’s long-term strategy has been to become a fully regulated, premium energy company focused on investment in infrastructure and the energy innovations that our customers wants and need. This transaction advances that strategy and reduces some of the business risks involved with operating competitive generating assets.”

The sale is expected to close in first quarter 2017.

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy