American Electric Power announced that it has completed the sale of its distributed resources business, OnSite Partners, to funds advised by Basalt Infrastructure Partners LLC. AEP nets approximately $318M in cash after taxes, transaction fees and other customary adjustments. The sales agreement was announced in May 2024. The sale received necessary regulatory approval from the Federal Energy Regulatory Commission and federal clearance pursuant to the Hart-Scott-Rodino Antitrust Improvement Act of 1976.
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