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American Electric Power Partners with KKR & Co Inc and PSP Investments to Sell 19.9% Stake in Transmission Assets for $2.82B
Jan 10, 2025•over 1 year ago
Contract Type
partnership
ColumbusManufacturingEnergyOil And GasRenewable Energy
Description
American Electric Power Company Inc has formed a strategic partnership with KKR & Co Inc and PSP Investments to sell a 19.9% non-controlling equity interest in its Ohio and Indiana & Michigan Transmission Companies (Transcos) for $2.82 billion. This partnership aims to boost AEP's ability to finance its $54 billion capital investment plan over the next five years, improve transmission infrastructure reliability, and meet growing customer demand in the Midwest.
Company Information
Company
American Electric Power
Location
Columbus, Ohio, United States
About
American Electric Power (AEP) is a major investor-owned electric utility in the United States, delivering electricity to more than five million customers in 11 states. The company is dedicated to providing safe, reliable, and affordable service to its customers while executing on its strategic priorities.
ColumbusManufacturingEnergyOil And GasRenewable Energy