Sempra, Carlyle to Buy 10 AEP Power Plants
From Dow Jones/Associated Press
American Electric Power Co. has reached an agreement to sell its remaining 10 power plants in Texas to Sempra Energy and private investment fund Carlyle/Riverstone for $430 million.
Under the agreement, Sempra and Carlyle/Riverstone will jointly own the plants, which have a combined generating capacity of 3,813 megawatts.
The transaction includes six active power plants capable of generating 1,950 megawatts and four inactive power plants with capacity of 1,863 megawatts.
San Diego-based Sempra, parent of Southern California Gas and San Diego Gas & Electric, closed down 10 cents at $31.81.
Columbus, Ohio-based AEP was off 29 cents at $33.33. Both companies are listed on the New York Stock Exchange.
