American Electric Power has completed the sale of its 50 percent interest in New Mexico Renewable Development, LLC to Exus North America Holdings LLC. AEP nets approximately $104 million in cash after tax, transaction fees and other customary adjustments.
AEP began the sale process in June 2023 and received necessary regulatory approval from the Federal Energy Regulatory Commission, New Mexico regulatory approvals associated with one of NMRD's projects and clearance under the Hart-Scott-Rodino Antitrust Improvement Act of 1976.
The sale portfolio includes nine operating solar developments totaling 185 MW and six projects under development with an estimated output of 440 MW.
AEP also is one of the nation's largest electricity producers with nearly 29,000 megawatts of diverse generating capacity, including approximately 6,100 megawatts of renewable energy. AEP is investing $43 billion over the next five years to make the electric grid cleaner and more reliable.
