Sempra Energy to sell US wind assets to American Electric Power for $551 millionStaff Writer | February 13, 2019
Sempra Energy announced that it has entered into an agreement to complete the sale of its U.S. renewables business by selling its remaining wind operating and development assets to American Electric Power (AEP) for $551 million in cash, subject to closing adjustments and working capital.
Acquisition The sale to AEP comprises approximately 724 megawatts of capacity
The sale to AEP comprises approximately 724 megawatts of capacity in Sempra Energy's non-utility U.S. renewables portfolio. The sale is expected to be completed in the second quarter of 2019.
The sale is subject to customary closing conditions and consents, including Federal Energy Regulatory Commission and Hart-Scott-Rodino Antitrust Improvements Act approvals. ■