American Electric Power (AEP) has completed the sale of its 50% interest in New Mexico Renewable Development (NMRD) to Exus North America Holdings, netting approximately $104 million in the deal.
The sale portfolio includes nine operating solar developments totaling 185 MW and six projects under development with an estimated 440 MW output.
AEP began the sale process in June and received necessary regulatory approval from the Federal Energy Regulatory Commission, New Mexico regulatory approvals associated with one of NMRD’s projects and clearance under the Hart-Scott-Rodino Antitrust Improvement Act of 1976.
