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American Electric Power (AEP) has agreed to sell its 50% interest in New Mexico Renewable Development (NMRD) to Exus North America.

AEP and PNM Resources, which also owns 50% of NMRD, plan to sell the portfolio of 15 solar projects totaling 625 MW to Exus for approximately $230 million, subject to true-up adjustments at close.

AEP’s share of the sale is approximately $115 million and the company expects to receive about $104 million in cash after tax, transaction fees and other customary adjustments. The sale is expected to close in February 2024 and will not have a material impact on financial results. 

“This sale is another step forward on our path to simplify our business and focus on investing in our core regulated operations, and we continue to execute on our strategy to de-risk the company,” says AEP’s Julie Sloat. “Earlier this year, we completed the $1.5 billion sale of other parts of our contracted renewables business. The proceeds from these sales are strengthening our balance sheet and supporting our continued efforts to create an energy system that benefits customers by providing safe, reliable and affordable electricity.”

The NMRD portfolio includes nine operating solar developments totaling 185 MW and six projects under development with an estimated output of 440 MW, says the company.

AEP launched the sale process for NMRD in June. KeyBanc Capital Markets is serving as financial advisor and Foley & Lardner LLP is serving as legal counsel to AEP and PNM Resources.

The post AEP to Sell Interest in New Mexico Renewable Development to Exus  appeared first on Solar Industry.

AEP to Sell Interest in New Mexico Renewable Development to Exus 

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Renewable Energy

Bravery Meets Tragedy: An Unending Story

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Here’s a story:

He had 3 days left until graduation.

STEM School Highlands Ranch. May 7, 2019.

Kendrick Castillo was 18. A robotics student. College bound. Accepted into an engineering program. The final week of school felt like countdown, not crisis.

Then a weapon appeared inside a classroom.

Students froze.

Kendrick did not.

Witnesses say he moved instantly. He lunged toward the attacker. No hesitation. No calculation.

Two other students followed his lead.

Gunfire erupted.

Kendrick was fatally sh*t.

But his movement changed the room.

Classmates were able to tackle and restrain the attacker until authorities arrived. Investigators later stated that the confrontation disrupted the attack and likely prevented additional casualties.

In seconds, an 18-year-old made a decision most adults pray they never face.

Afterward, the silence was heavier than the noise.

At graduation, his name was called.

His diploma was awarded posthumously. The arena stood in collective applause. An empty seat. A cap and gown without the student inside it.

His robotics teammates remembered him as curious. Competitive. Kind. Someone who solved problems instead of avoiding them.

He had planned to build machines.

Instead, he built a moment.

A moment that classmates say gave them time.

Time to escape.

Two points:

If you can read this without tears welling up in your eyes, you’re a far more stoic person than I.

Since Big Money has made it impossible for the United States to implement the same common-sense gun laws that exist in the rest of the planet, this story will reduplicate itself into perpetuity.

Bravery Meets Tragedy: An Unending Story

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Renewable Energy

Forced Transgendering of America’s Little Kids

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How often does this happen? How about never?

Trump loves to say that little boys go to school and come back home little girls.

He’s the most powerful person in the world for exactly one reason: We’re a nation of morons.

Forced Transgendering of America’s Little Kids

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Renewable Energy

Illegal Aliens and U.S. Veterans

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Two comments:

That the United States has homeless veterans is a national (and international) disgrace.

By definition, no one has the legal right to enter the U.S. illegally, but according to our constitution, everyone in America is entitled to due process.

Illegal Aliens and U.S. Veterans

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