On Feb. 22, 2023, American Electric Power (AEP) has reached an agreement to sell its 1,365-megawatt unregulated, contracted renewables portfolio to IRG Acquisition Holdings, owned by Invenergy, CDPQ, and funds managed by Blackstone Infrastructure, for $1.5 billion including project debt. The sale is expected to conclude in the second quarter of 2023, and AEP anticipates netting approximately $1.2 billion (1,983,922,500.00 CAD) in cash after taxes and other adjustments. The portfolio consists of 14 projects, totaling 1,200 MW of wind and 165 MW of solar in 11 states, with renewable power contracted under long-term agreements. AEP plans to reinvest the proceeds in its regulated core businesses, focusing on enhancing service for customers and advancing their clean energy transition. Completion of the transaction was announced on August 16, 2023.