HomeAugust 2, 2022
Retail Supplier Affiliate Completes Sale Of Merchant Power Plant
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American Electric Power announced that it has completed the sale of the 595-megawatt (MW) Cardinal Plant Unit 1 in Brilliant, Ohio, from AEP Generation Resources, the company’s competitive generation affiliate, to Buckeye Power.
AEP Generation Resources will purchase 100% of Unit 1’s output through a power purchase agreement through 2028.
In March, AEP reached an agreement to sell Cardinal Plant Unit 1 and the company’s ownership stake in Cardinal Operating Company to Buckeye Power.
Cardinal Operating Company currently operates Cardinal Plant, and Buckeye already owns the other two units at the plant.
"The sale of Cardinal Plant Unit 1 completes AEP Generation Resources’ exit from competitive generation ownership in Ohio and reinforces AEP’s focus on its regulated business operations and infrastructure,' AEP said
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