M&A Deal Summary

AEP Acquires Sempra Energy - U.S. Renewables Business

On February 12, 2019, AEP acquired renewable energy company Sempra Energy - U.S. Renewables Business from Sempra for 1.1B USD

Acquisition Highlights
  • This is AEP’s 1st transaction in the Renewable Energy sector.
  • This is AEP’s largest (disclosed) transaction.
  • This is AEP’s 5th transaction in the United States.
  • This is AEP’s 1st transaction in California.

M&A Deal Summary
Date 2019-02-12
Target Sempra Energy - U.S. Renewables Business
Sector Renewable Energy
Buyer(s) AEP
Sellers(s) Sempra
Deal Type Divestiture
Deal Value 1.1B USD

Target

Sempra Energy - U.S. Renewables Business

San Diego, California, United States
Sempra Energy - U.S. Renewables Business owns all or part of seven wind farms and one battery installation in seven states.

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Buyer(S) 1

Buyer

AEP

Columbus, Ohio, United States
Category Company
Founded 1906
Sector Utilities
Employees16,800
Revenue 19.0B USD (2023)
DESCRIPTION

AEP is a utility holding company. AEP owns nearly 38,000 megawatts of generating capacity in the U.S. AEP also owns the nation’s largest electricity transmission system, a more than 40,000-mile network that includes more 765-kilovolt extra-high voltage transmission lines than all other U.S. transmission systems combined. AEP was founded in 1906 and is based in Columbus, Ohio.

DEAL STATS #
Overall 5 of 5
Sector (Renewable Energy) 1 of 1
Type (Divestiture) 1 of 1
State (California) 1 of 1
Country (United States) 5 of 5
Year (2019) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-14 American Electric Power - Four Competitive Power Plants

United States

American Electric Power - Four Competitive Power Plants comprises four power plants totaling approximately 5,200 megawatts (MW). Power plants are Lawrenceburg Generating Station, 1,186 MW natural gas, Lawrenceburg, Indiana, Waterford Energy Center, 840 MW natural gas, Waterford, Ohio Darby Generating Station, 507 MW natural gas, Mount Sterling, Ohio and Gen. James M. Gavin Plant, 2,665 MW coal, Cheshire, Ohio.

Sell $2.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-09 American Electric Power - Racine Hydro Plant

Columbus, Ohio, United States

Racine Hydro Plant is a 48-megawatt (MW) hydroelectric Racine Plant in Racine, Ohio.

Sell -

Seller(S) 1

SELLER

Sempra

San Diego, California, United States
Category Company
Founded 1996
Sector Utilities
Employees16,835
Revenue 16.7B USD (2023)
DESCRIPTION
Sempra Energy's corporate headquarters in downtown San Diego, California.
Sempra Energy's corporate headquarters in downtown San Diego, California.

Sempra develops and operates critical energy infrastructure and provides gas and electricity services primarily in the Western United States. Sempra was founded in 1996 and is based in San Diego, California.

DEAL STATS #
Overall 5 of 9
Sector (Renewable Energy) 3 of 3
Type (Divestiture) 4 of 7
State (California) 3 of 5
Country (United States) 5 of 7
Year (2019) 2 of 4
Size (of disclosed) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-02 Sempra Energy - U.S. Natural Gas Storage Facilities

San Diego, California, United States

Sempra Energy - U.S. Natural Gas Storage Facilities is a provider of natural gas storage facilities.

Sell $332M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-30 Luz del Sur S.A.A.

San Isidro, Peru

Luz del Sur S.A.A. operates as an electric power distribution company in Peru and Latin America. It serves approximately 960 thousand residential, commercial, industrial, and other customers in the southeast area of Lima in Peru.

Sell $3.6B
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