Invenergy has 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) 1,365MW unregulated, contracted renewables portfolio.
The consortium acquired the portfolio for $1.5 billion in enterprise value. The portfolio includes 14 projects in 11 states and is comprised of 1,200MW of wind generation and 165MW of solar projects. The renewable power generated by these projects is contracted under long-term agreements with various utilities, corporations, and municipalities.
