American Electric Power (AEP) to Sell Stake in New Mexico Asset
Dec 28, 2023
American Electric Power Co. Inc. AEP and PNM Resources Inc. PNM have inked a deal to divest 50% stake each in New Mexico Renewable Development, LLC (“NMRD”) to Exus North America Holdings, LLC for approximately $230 million.
The NMRD portfolio consists of nine operating solar developments totaling 185 megawatts (MW) and six projects under development with an estimated output of 440 MW. AEP and U.S.-based PNM Resources intend to sell this portfolio of 15 solar projects totaling 625 MW.
