American Electric Power on Sept. 14 said that it has signed an agreement to sell four competitive power plants totaling approximately 5,200 megawatts for approximately $2.17 billion to a newly formed joint venture of Blackstone and ArcLight Capital Partners LLC.
The sale agreement includes the following power plants: 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.
