INVENERGY-LED CONSORTIUM COMPLETES PURCHASE OF AMERICAN ELECTRIC POWER'S UNREGULATED RENEWABLES PORTFOLIO
CHICAGO, Aug. 16, 2023 /PRNewswire/ -- Invenergy, the leading privately held developer, owner, and operator of sustainable energy solutions, today announced IRG Acquisition Holdings (IRGAH), a partnership between Invenergy, CDPQ and funds managed by Blackstone Infrastructure Partners (Blackstone), has closed on the acquisition of American Electric Power's (AEP) 1,365-megawatt (MW) unregulated, contracted renewables portfolio for $1.5 billion enterprise value.
- "Invenergy has industry-leading operations and asset management capabilities, and we look forward to applying our unmatched expertise to this portfolio of projects."
- The portfolio, the largest ever acquisition for American-led Invenergy, includes 14 projects in 11 states and is comprised of 1,200 MW of wind generation and 165 MW of solar projects.
- The renewable power generated by these projects is contracted under long-term agreements with various utilities, corporations, and municipalities.
- "We are excited to support this transaction with Invenergy and their partners in IRG Acquisition Holdings.