American Electric Power (Nasdaq: AEP) today completed the sale of Racine Plant, a 48-megawatt (MW) hydroelectric facility in Racine, Ohio, from AEP Generation Resources, the company’s competitive generation affiliate, to Eagle Creek Renewable Energy.
AEP announced Feb. 9, 2021, that it had reached an agreement to sell the plant. The Federal Energy Regulatory Commission approved the transfer on Dec. 17. Due to the competitive nature of the transaction, the sale price will not be disclosed.
The sale of Racine Hydro furthers AEP’s ongoing focus on its regulated business operations, infrastructure and energy innovations. With the completion of this transaction, AEP Generation Resources’ only remaining competitive facility is Cardinal Plant’s 595-MW Unit 1, which is scheduled for retirement in 2028.
Key data points: The growth forecast = 4.6% annually for the next 7 years. Scroll below to get more insights. This market report covers Trends, opportunities and forecasts in hydro turbine generator unit market to 2031 by type (small hydro(1-50MW), medium hydro(50-100MW), and large hydro(above 100MW)), application (impulse turbines and reaction turbines), and region (North America, Europe, Asia Pacific, and the Rest of the World)
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