American Electric Power Closes Sale of OnSite Partners-June 2024-www.financetom.com

American Electric Power Closes Sale of OnSite Partners

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American Electric Power Closes Sale of OnSite Partners

Oct 2, 2024 11:35 PM

11:08 AM EDT, 09/30/2024 (MT Newswires) -- American Electric Power ( AEP ) said Monday it has completed the sale of its distributed resources business, OnSite Partners, to funds advised by Basalt Infrastructure Partners.

The company said it netted about $318 million in cash after taxes, fees and other adjustments.

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