NewQ1 2026 Clean Energy Deal Intelligence Report is live
M&AAnnouncedOctober 26, 2021

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

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