Invenergy Buys American Electric Power's Renewables Portfolio For $1.5B
Portfolio Pulse from Lekha Gupta
Invenergy has acquired American Electric Power Co. Inc.'s (NASDAQ:AEP) 1,365-megawatt (MW) unregulated, contracted renewables portfolio for $1.5 billion. The assets were bought through IRG Acquisition Holdings (IRGAH), a collaboration between Invenergy, CDPQ, and funds managed by Blackstone Infrastructure Partners of Blackstone Inc. (NYSE:BX). AEP is streamlining its portfolio through this divestiture and aims to focus on its regulated operations.
August 16, 2023 | 3:08 pm
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NEUTRAL IMPACT
American Electric Power Co. Inc. has sold its renewables portfolio to Invenergy for $1.5 billion as part of its strategy to focus on regulated operations.
The sale of the renewables portfolio is part of AEP's strategy to streamline its operations and focus on regulated businesses. This could potentially improve the company's operational efficiency and profitability in the long run. However, the immediate impact on the stock price is uncertain.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Blackstone Inc. is part of the consortium that has acquired American Electric Power Co. Inc.'s renewables portfolio through IRG Acquisition Holdings.
Blackstone's involvement in the acquisition of AEP's renewables portfolio could potentially enhance its investment portfolio and generate returns in the future. However, the immediate impact on the stock price is uncertain.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50