Connect with us

Published

on

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 

Continue Reading

Renewable Energy

How Would You Feel If . . .

Published

on

Sad that it came to this, but not nearly as sad as I would if he gets away with all this criminality, and the rest of the world writes us of as avid supporters of crime and apathetic to rule of law.

How Would You Feel If . . .

Continue Reading

Renewable Energy

JD Vance and His Certainty Re: God’s Work

Published

on

At left we see illustrated the core problem with the world’s theistic religions, i.e., that adherents are so certain of the rightness of their beliefs that they have no problem destroying the world.

FWIW, I have a friend who takes this even further: he is actively rooting for the apocalypse, and the prospect that all believers in God’s son Jesus will be raptured up to heaven to sit at the right hand of God.

He knows that I don’t believe any of this, but he remains confident that I’ll come around.  As he told me, “God melts even the hardest of hearts.”  He thinks I’m doing the devil’s work with my compassion for others and the effort I put out to achieve a peaceful and sustainable civilization.

We’d be living in tough times even without these fanatics, but religious dogma, especially of this sort, makes it all that much more difficult.

JD Vance and His Certainty Re: God’s Work

Continue Reading

Renewable Energy

The U.S. Post-Trump

Published

on

We read a great deal about people who think that repairing the damage caused by Trump is going to be quick and easy.

Others are not nearly so sanguine, pointing out that many nations have gone to great lengths to create new trade relationships in their effort to cut the United States off without a penny.

Another question is how the people in other countries have come to regard Americans, as people of extremely low moral character–as crackpots, as racists, as gullible morons, as people incapable of critical thinking.  That’s not going to change overnight, if it changes at all.

The U.S. Post-Trump

Continue Reading

Trending

Copyright © 2022 BreakingClimateChange.com