AEP Will Sell Kentucky Operations to Algonquin to Fund Renewables
- Deal includes natural gas and coal-fired power plants
- AEP in April began strategic review of Kentucky operations
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American Electric Power Co. agreed to sell its Kentucky operations to Algonquin Power & Utilities Corp. for $1.5 billion to fund more clean energy and transmission projects.
The deal includes Kentucky Power and AEP Kentucky Transco, according to a statement Tuesday. AEP in April initiated a strategic review of its Kentucky operations.