Exus Management Partners, an independent investment firm focused on the renewable energy sector, completed the acquisition of New Mexico Renewable Development, a portfolio that includes nine operating solar farms and six projects under development, from American Electric Power and PNM Resources for $234m. "This sale is another step forward on our path to simplify our business and focus on investing in our core regulated operations, and we continue to execute on our strategy to de-risk the company. Earlier this year, we completed the $1.5 billion sale of other parts of our contracted renewables business. The proceeds from these sales are strengthening our balance sheet and supporting our continued efforts to create an energy system that benefits customers by providing safe, reliable and affordable electricity," Julie Sloat, AEP Chair, President and CEO.