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Appalachian Power to Acquire Wind and Solar Power Projects in Virginia, US


Marketline - Deals  

 

    Deal In Brief

    Appalachian Power, a renewable energy company, has agreed to acquire wind and solar power project located in Virginia, US. The total installed capacity of the wind projects will be 1,000 MW and solar projects will be 100 MW

    Company invited proposals for wind and solar generation resources with optional battery energy-storage systems. The proposals will help the company meet the renewable energy requirements established by Virginia’s Clean Economy Act (VCEA). Under the VCEA, Appalachian Power must meet annual targets as it works toward 100% carbon-free energy in its Virginia service territory by 2050

    The company seeks to acquire the completed wind and/or solar projects through one or more purchase and sale agreements. Facilities must be at least 50 MW in size and achieve a commercial operation date of no later than December 15, 2025. . Under the RFP, Appalachian Power may acquire a single or multiple wind and/or solar facilities from winning bidders who meet certain economic and operational criteria.

    Deal Type Acquisition
    Sub-Category Asset Purchase
    Deal Status Announced: 2022-01-18

    Deal Participants

    Acquirer (Company) Appalachian Power Company
    Vendor (Company) Undisclosed Company

    Deal Rationale

    % Acquisition 100%

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