AEP completes sale of last non-utility asset

16 February 2006 - American Electric Power has divested its last non-utility asset with the sale of its 50 per cent stake in a power plant in Mexico for $29m.

The sale of its interest in the Bajio power plant to InterGen was 'earnings neutral', since write-downs in 2004 and 2005 had reduced the asset value.

"This transaction is significant because it completes the divestiture of assets, both international and domestic, that did not align with our strong domestic utility operations," said Michael G. Morris, AEP's chairman, president and chief executive officer. "In the last two years we've sold power plants in England, China and Mexico, domestic merchant plants, our domestic gas pipelines and storage, and other smaller holdings. The divestitures leave us with an improved balance sheet and a strategic focus on our core utility business."

Bajio is a 600 MW natural gas fired combined cycle power plant in San Luis de la Paz, a municipality in the state of Guanajuato. AEP acquired its interest in Bajio from InterGen in 2000 when the plant was under construction. Bajio began commercial operations in 2002.

Sponsored by FLSmidth

Related Articles

Study: Mexico could install 12,000 MW of wind capacity by 2020

Total installed wind power capacity in Mexico will reach some 12,000 MW by 2020, or 15 percent of the country’s electricity mix.

AES plans solar energy project to power copper mines in Chile

AES Gener SA plans to build a $572 million solar farm in northern Chile as it seeks to boost electricity supply to copper miners in the Atacama Desert.

Follow Power Engineering on Twitter
Latest News

MHPS to supply M501J gas, steam turbines to new combined-cycle power plant in Korea

Mitsubishi Hitachi Power Systems (MHPS), jointly with Marubeni Corp., has received an order f...

Business leaders throw support behind coal plant proposal

Business leaders on Thursday outlined the economic devastation they say could come if New Mex...

TVA seeks public comment for future coal ash storage at Bull Run

The Tennessee Valley Authority (TVA) is asking for public input on plans to expand dry onsite...

California Public Utilities Commission Approves NRG Energy’s Carlsbad Energy Center

California Public Utilities Commission (CPUC) has approved the SDG&E Power Purchase and T...

Vermont joins international effort to fight climate change

Gov. Peter Shumlin says Vermont has signed on to what he called a first-of-its-kind agreement...

Products May 2015

Callaway Energy Center's Replacement Reactor Vessel Closure Head Project

Replacing heavy equipment is one way utilities can extend the life and increase the reliabili...

Managing CCRs and Process Water: Why Handling Bottom Ash Wet May Remain The Best Option

The U.S. coal-fired electric generation industry once again finds itself in the crosshairs of...

Power Engineering Current Issue

01/01/2015
Volume 119, Issue 1
1501pe-cover-lg
Products Showcase
Dynamic Fluoride Ion cleaning DFIC of industrial natural gas turbines Hi-Tech Furnace Systems

Dynamic Fluoride Ion Cleaning of IGT Parts

The Dynamic Fluoride Ion Cleaning (DFIC) Process from Hi-Tech Furnace Systems is able to clean deep, narrow cracks of oxides by cycling between negative, atmospheric, and positive pressure.

Archived Articles

2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015

Power Industry Wire News

MIC President Marybeth Miceli Named to AATA Board of Directors; AATA to Provide Free NDT Job Training to Vets, Disadvantaged Young Adults

MIC President Marybeth Miceli Named to AATA Board of Directors; AATA to Provide Free ND...

Alexium Anticipates Potential Addressable Revenue of More Than US$10M for 2015

Alexium Anticipates Potential Addressable Revenue of More Than US$10M for 2015

Upcoming Greenhouse Webinar Teaches Companies How to Engage Engineers in Hiring Top Tech Talent

Upcoming Greenhouse Webinar Teaches Companies How to Engage Engineers in Hiring Top Tec...

Perma-Fix Environmental Services to Present at the Marcum MicroCap Conference

Perma-Fix Environmental Services to Present at the Marcum MicroCap Conference

Blue Earth Receives Notice From NASDAQ That the Company Is No Longer Subject to a Possible Delisting

Blue Earth Receives Notice From NASDAQ That the Company Is No Longer Subject to a Possi...

Power Engineering

Article Archives for Power Engineering Magazine

Continuing Education

Professional Development Hours

To access a course listing associated to a specific topic listed below, click on the topic of choice from the list below.

Latest Energy Jobs

View more Job Listings >>