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US utility American Electric Power (AEP) has signed an agreement to sell its 625MW of solar PV assets in the state of New Mexico to investment firm Exus Asset Holdings.
The solar capacity is spread across 15 projects throughout the state and will be sold for approximately US$230 million. The portfolio is under the ownership of New Mexico Renewable Development LLC (NMRD), a 50-50 joint venture between AEP and New Mexico-based electricity holding company PNM Resources.
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