AEP closes $2.82B sale of 19.9% transmission stake to KKR/PSP

AEP Transmission Company, LLC

AEP completed sale of 19.9% equity interest in its Ohio and Indiana Michigan transmission cos to KKR and PSP Investments for $2.82B.
Proceeds will support AEP's five-year, $54 billion capital plan.
The minority stake represents approximately 5% of AEP's total transmission rate base.
Over 20 GW of new power demand expected across AEP's footprint by end of decade; nearly 180 GW of demand from customers seeking to connect.
AEP will continue to operate and maintain the transmission facilities.

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