Kentucky Power Company + AEP Kentucky Transmission — 1,075 MW gen + transmission, ~228K customer connections in KY
Algonquin Power & Utilities announced acquisition of AEP Kentucky operations through Liberty subsidiary for $2.846B enterprise value (incl. $1.221B debt). Originally expected close Q2 2022; pushed to Jan 2023 with revised price $2.646B. Ultimately terminated April 17, 2023 due to FERC rejection. Would have grown AQN regulated rate base 32% to $9B and customer base 19% to 1.44M.
$2.85B
Deal Value
1,075MW
Capacity
Mixed
Technology
KY
Location
Deal Details
- Deal Type
- Utility Acquisition
- Seller / Sponsor
- American Electric Power (AEP)
- Buyer / Financier
- Liberty Utilities Co. (Algonquin Power & Utilities subsidiary)
- Deal Value
- $2.846B (incl. ~$1.221B debt)
- Stage
- Operating
- ISO/RTO
- PJM
- Source
- GlobeNewswire
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