Blackstone, ArcLight to pay $2.2B for power plants
September 15, 2016
Energy Production | Columbus, OH | Buyout
Blackstone and ArcLight Capital Partners have formed a new joint venture to buy four power plants in Ohio and Indiana from American Electric Power (NYSE: AEP). The firms will pay $2.17 billion for the plants, which total roughly 5,200 MW; AEP expects to net about $1.2 billion after taxes, repayment of debt and transaction fees.