Both Duke Energy and American Electric Power are moving to sell unregulated renewable energy assets, with Duke CEO Lynn Good calling the sale “an important step in our transition into a purely regulated company.” Meanwhile, PG&E and NiSource have also announced plans or expectations to sell parts of their businesses.
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Utilities including AEP and Duke are unloading renewables, other assets
Duke is selling its 3.4-GW commercial renewable energy business for $2.8B while AEP is selling nearly 1.4 GW of wind and solar assets in a $1.5B deal, among other sales announced by utilities in 2023.
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NiSource to sell minority stake in NIPSCO to private equity firm Blackstone for $2.15B
By Ethan Howland • June 21, 2023The deal announced Tuesday is part of a trend that includes FirstEnergy and Duke Energy raising capital by sales to private equity investors. Read the full article ➔
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Duke Energy sells 3.4-GW commercial renewables business to Brookfield for $2.8B
By Diana DiGangi • June 13, 2023The utility company said it plans to use the proceeds to strengthen its balance sheet and focus on growing its regulated business. Read the full article ➔
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FERC approves PG&E plan to spin off 5.6 GW in advance of possible minority stake sale
By Ethan Howland • June 2, 2023“We've actually seen pretty robust inbound interest in the asset, and so we do expect a fairly competitive process,” Carolyn Burke, PG&E Corp. CFO, said. Read the full article ➔
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AEP plans to sell competitive retail, distributed energy businesses in move to simplify, lower risks
By Ethan Howland • May 5, 2023It is also considering selling transmission joint ventures to focus on its service territory, Julie Sloat, AEP president and CEO, said May 4. Read the full article ➔
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AEP moves to ‘de-risk’ with $1.5B sale of unregulated wind and solar assets as it eyes further sales
By Ethan Howland • Feb. 24, 2023American Electric Power expects to make a decision before July on whether it will sell AEP Energy, its competitive retail energy business, company officials said Feb. 23. Read the full article ➔
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