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.
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AEP to Sell Interest in New Mexico Renewable Development to Exus
Obviously, this isn’t a real human being, though there are tens of millions with this perspective, so let’s treat him as if he were an actual guy.
No one’s going to hate you, because everyone with a brain supports border control and law enforcement.
You are, however, running the risk of being regarded as a moron. There are hundreds of points of domestic and international law, reason, and humanity that are being addressed every day along these lines.
Why don’t you go on keepin’ those doggies moving, and let the rest of us do our best to figure out how to treat immigrants legally and humanely?
The guy who sent me this writes Could not be any clearer than that.
We’ve all heard the adage, “If guns are outlawed, only outlaws will have guns.”
It has a nice ring to it, but it really doesn’t hold water in the real world, where counties with strict gun laws, e.g., Japan, England, and Australia have very low rates of violent crime.
Note: these countries don’t have an NRA, a fabulously wealthy lobbying organization that controls their lawmaking apparatus.
Moreover, outside the United States, it’s very hard to find a place where a potentially mentally unstable person can go into a store and walk out with a weapon of war, capable of killing 50+ people each minute.
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