American Electric Power (AEP) has closed the previously announced sale of the 48MW Racine hydropower plant in Racine, Ohio to Eagle Creek Renewable Energy.

The sale, which was announced in February 2021, was executed by AEP’s competitive generation affiliate — AEP Generation Resources.

The transfer of ownership of the Racine hydropower plant was approved last month by the US Federal Energy Regulatory Commission. The run-of-river hydroelectric generating facility had started operations in the early 1980s.

According to AEP, the sale of the Racine hydro power project furthers its current focus on its regulated business operations, infrastructure and innovations in energy.

The financial terms of the deal were not disclosed.

Following the closing of the Racine hydropower plant deal, AEP Generation Resources is left with only one competitive facility in the form of the 595MW coal-fired Unit 1 of the Cardinal power plant in Ohio, which is slated to be retired in 2028.

  AEP, AEP Generation Resources, American Electric Power, Cardinal power plant, Eagle Creek Renewable Energy, Hydro power plant, Ohio, Racine, Racine hydro electric plant, USA