Blog coverage jv firm of blackstone and arclight capital partners to buy american electric power midwest power plants – yahoo finance

LONDON, UK / ACCESSWIRE / September 15, 2016 / Active Wall St. National gas average 2012 blog coverage looks at the headline from American Electric Power Co., Inc. Electricity use (NYSE: AEP). Electricity tattoo designs A newly formed joint venture firm of Blackstone Group LP (NYSE: BX) and ArcLight Capital Partners LLC have signed an agreement on September 14, 2016 with American Electric Power to buy four of its power plants based in Midwest US. Electricity flow diagram Register with us now for your free membership and blog access at: http://www.activewallst.com/register/.

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AEP’s four power plants were sold for $ 2.17 billion. Gas nozzle icon The four competitive power plants of AEP have a combined capacity of producing 5200 megawatts of electricity served by the PJM Interconnection. Chapter 7 electricity and magnetism Three of the plants are located in Ohio, whereas one plant is located in Indiana. Electricity grounding works The deal is expected to be final in the first quarter of 2017. Gas national average 2009 The sale is subject to regulatory approvals from shareholders of AEP as well as various federal agencies including Federal Energy Regulatory Commission and the Indiana Utility Regulatory Commissions.

AEP will get approximately $1.2 billion in cash after deduction of taxes, repayment of existing debts and transaction fees. Gas in oil car AEP has not disclosed its plans with regards to the utilization of the funds from the sales. Gas relief for babies home remedy However, it is speculated that the funds would be reinvested in AEP’s business and utilised for transmission, renewable projects, additional debt retirement and share buybacks.

“Our employees have done an incredible job operating these power plants in PJM, and I’m confident that they will contribute to the future success of Blackstone and ArcLight. Electricity kwh cost We will continue to operate these plants safely in the coming months while working closely with the Blackstone and ArcLight teams to obtain the regulatory approvals necessary to complete the sale.”

Both private equities – Blackstone and ArcLight – have funds that are focused on energy infrastructure and have significant experience in the owning and operating power generation setups in North America and Europe. T gasthuys Together both companies have owned and operated more than 38,000 megawatts of power generation across the globe, including location in the US. Electricity lessons ks1 Blackstone and ArcLight are making the investment when the power prices are at a low with the hope that power prices recover in the future.

Electricity power prices have fallen nearly 13% in the last two years and have affected the profitability of the power generators across the US. Electricity facts history Alternate energy sources like natural gas and renewable energy sources like solar power have also affected the prices and demand for electricity. Origin electricity faults Coal-fired power plants have been particularly hard-hit because of high costs. Power energy definition Given this backdrop, since January 2015, AEP has been looking at an opportunity to invest in alternative power generation sources and raise funds for the same by selling off its plants in the Midwest.

The sale is part of AEP’s strategy to become a fully regulated, premium energy company and reduce some of the business risks associated with operating competitive generating assets. Gas variables pogil packet answers AEP is evaluating and looking at alternatives for an additional 2,677 megawatts of power generation it owns in Ohio. Natural gas in spanish It is also continuing a separate strategic review of its 48 megawatt hydroelectric Racine Plant in Racine, Ohio.

American Electric Power’s share prices were on a high in the early hours of the trading session, and finished yesterday’s session at $64.02, slightly advancing 0.33%. Electricity notes pdf A total volume of 2.82 million shares exchanged hands, which was higher than the 3 months average volume of 2.35 million shares. Gas and supply okc The stock has advanced 23.22% in the last twelve months, respectively. Electricity prices going up Furthermore, since the start of the year, shares of the company has gained 12.75%. Gas house edwards co The stock is trading at a PE ratio of 18.28 and a dividend yield of 3.50%.

Blackstone Group’s stock is trading slightly down by 0.74%, closing Wednesday’s session at $25.29 on volume of 3.05 million shares. Electricity grid australia The company’s shares gained 2.89% in the previous three months. O gastronomico The company’s shares have a PE ratio of 64.62 and a dividend yield of 5.63%.

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