WS News
06 Jun 2025, 17:18
AEP Closes Strategic Transmission Partnership with KKR and PSP Investments
June 5, 2025 – American Electric Power (Nasdaq: AEP) has finalized a $2.82 billion transaction with KKR and PSP Investments, granting the firms a 19.9% equity interest in AEP’s Ohio and Indiana Michigan transmission companies. The investment supports AEP’s $54 billion five-year capital plan and represents about 5% of its total transmission rate base.
AEP expects over 20 GW of new power demand across its footprint by 2030, with nearly 180 GW of potential demand from 600 customers exploring transmission connections. The partnership will enable AEP to expand and modernize its grid in Indiana, Michigan, and Ohio, while AEP retains operational control of the facilities.
Executives from AEP, KKR, and PSP Investments emphasized the collaboration’s role in meeting rising energy demand, enhancing grid reliability, and advancing critical infrastructure development in key service areas.
June 5, 2025 – American Electric Power (Nasdaq: AEP) has finalized a $2.82 billion transaction with KKR and PSP Investments, granting the firms a 19.9% equity interest in AEP’s Ohio and Indiana Michigan transmission companies. The investment supports AEP’s $54 billion five-year capital plan and represents about 5% of its total transmission rate base.
AEP expects over 20 GW of new power demand across its footprint by 2030, with nearly 180 GW of potential demand from 600 customers exploring transmission connections. The partnership will enable AEP to expand and modernize its grid in Indiana, Michigan, and Ohio, while AEP retains operational control of the facilities.
Executives from AEP, KKR, and PSP Investments emphasized the collaboration’s role in meeting rising energy demand, enhancing grid reliability, and advancing critical infrastructure development in key service areas.
