AEP recently announced that it will sell 19.9% equity interest in AEP Ohio Transmission and AEP Indiana Michigan Transmission to private equity firm KKR and Canada’s Public Sector Pension Investment Board. The equity stake KKR and PSP are buying represents approximately 5% of AEP’s total transmission rate base. The sale will offset some of AEP’s $5.35 billion equity financing needs through 2029, the company said.

The deal is expected to close in the second half of this year. 1/15/2024