- Published: 23 April 2019 23 April 2019
Sempra Energy has announced that it has completed the divestiture of its US renewables business generating approximately US$ 2.5 billion in total cash proceeds. The announcement comes with the completion of the sale of its remaining ownership interests in operating and development-stage wind assets to American Electric Power Company. (AEP) for US$ 584 million in cash, subject to customary post-closing adjustments.
The sale to AEP included approximately 724MW of net operating capacity comprising the following projects: Black Oak Getty Wind in Minnesota and Apple Blossom Wind in Michigan, as well as Sempra Energy's interests in jointly-owned projects with BP Wind Energy: Auwahi Wind in Hawaii (wind and battery storage), Flat Ridge 2 Wind in Kansas, Mehoopany Wind in Pennsylvania, Cedar Creek 2 Wind in Colorado, and Fowler Ridge 2 Wind in Indiana. AEP also acquired all of Sempra Energy's wind projects currently in development.