Sale by Sempra Energy of Sempra Renewables to American Electric Power Company.

Sale by Sempra Energy, a premier North American energy infrastructure company, of Sempra Renewables, a provider of electricity using solar and wind energies, to American Electric Power Company, a major investor-owned electric utility in the United States of America. The purchase price was $1bn. "The agreement to sell our U.S. wind assets along with the previously announced sales of our U.S. solar and natural gas storage assets are expected to generate approximately $2.5bn in cash proceeds to support our growth plan as we strive to become North America's premier energy infrastructure company," said Joseph A. Householder, president and chief operating officer of Sempra Energy. "The timing of these asset sales is important as we look to redeploy new capital into important growth at our U.S. utilities where we are improving the safety and reliability of electric and gas service."