Eagle Creek Renewable Energy to acquire Racine Hydro Plant from AEP.

Eagle Creek Renewable Energy, which owns and operates 86 hydroelectric facilities in the United States, agreed to acquire the 48-megawatt hydroelectric Racine Hydro Plant from American Electric Power, a major investor-owned electric utility. Financial terms were not disclosed. "The sale of Racine Plant is part of our ongoing strategic evaluation of our generating assets as we focus on our regulated business operations and invest in the infrastructure and energy innovations that bring value to our customers. We continue to add new emission-free energy both in our regulated states and through contracted renewable projects that fit with our overall strategy and portfolio," Nicholas K. Akins, AEP Chairman, President and CEO.