May 5, 2025

AEP moves to acquire 1 GW Ohio gas plant from Ares Management, I Squared Capital

The proposed deal comes right on the heels of a sale of a New Jersey gas plant by Ares Management.

Acquisition Application: Indiana Michigan Power Co. (I&M), a subsidiary of American Electric Power Co. Inc., filed an application with FERC to acquire the 1,062-MW gas-fired Oregon Clean Energy (OCE) generator from subsidiaries of funds managed by Ares Management Corp. and I Squared Capital Advisors (US) LLC. The companies seek approval by Oct. 27, according to the April 30 filing. Gigawatt ...

Details:

Filing Date: April 30, 2025

Docket Numbers:

EC25-84

Short Summary:

Indiana Michigan Power Co. (I&M), a subsidiary of American Electric Power Co. Inc., filed an application with FERC to acquire the 1,062-MW gas-fired Oregon Clean Energy (OCE) generator from subsidiaries of funds managed by Ares Management Corp. and I Squared Capital Advisors (US) LLC. The companies seek approval by Oct. 27, according to the April 30 filing.

Impact Level:

Categories:

Dealmaking & Transactions

Tags: Acquisitions & Dispositions, Natural Gas, Natural Gas-Fired Generators

Entities: American Electric Power Company Inc., Ares Management Corp., I Squared Capital Advisors (US) LLC, Indiana Michigan Power Co.

Markets: PJM Interconnection (PJM)

Regions: Mid-Atlantic & Midwest

States: Ohio

Regulators: FERC

Courts:

Documents:

Acquisitions & Dispositions – Application