Téa Spellacy

Project Manager

Invenergy-Led Acquisition of AEP's Unregulated Renewables Portfolio - Renewable Energy Project
Invenergy-Led Acquisition of AEP's Unregulated Renewables Portfolio

Invenergy-Led Acquisition of AEP's Unregulated Renewables Portfolio

In August 2023, Invenergy, alongside partners CDPQ and Blackstone Infrastructure Partners, completed the acquisition of American Electric Power's (AEP) unregulated, contracted renewables portfolio for $1.5 billion. This landmark transaction encompassed 14 projects across 11 U.S. states, totaling 1,365 megawatts (MW) of capacity—comprising 1,200 MW of wind and 165 MW of solar assets. The portfolio's power output is secured under long-term agreements with various utilities, corporations, and municipalities.

Deal Overview

Transaction Details

  • Acquisition Value: $1.5 billion
  • Portfolio Size: 1,365 MW total capacity
    • 1,200 MW wind
    • 165 MW solar
  • Project Count: 14 projects
  • Geographic Spread: 11 U.S. states
  • Contract Status: Long-term agreements in place

Strategic Significance

  • One of the largest renewable energy acquisitions in the U.S.
  • Strengthens Invenergy's position in the renewable energy market
  • Expands portfolio of contracted renewable assets
  • Demonstrates growing investor confidence in renewable energy

My Role: Project Management Team Member

As a key member of the project management team, I played an integral role in coordinating the comprehensive technical due diligence required for this expansive acquisition.

Key Contributions

Multidisciplinary Coordination

  • Managed collaboration among subject matter experts
  • Coordinated civil, electrical, and environmental specialists
  • Oversaw renewable energy technology assessments
  • Ensured comprehensive evaluation of each asset

Scope Management

  • Oversaw development of detailed scopes of work
  • Ensured alignment with client expectations
  • Managed transaction timelines
  • Coordinated deliverables across multiple projects

Quality Assurance

  • Maintained high standards in technical assessments
  • Ensured consistency across all evaluations
  • Facilitated informed decision-making
  • Supported client consortium's investment process

Key Outcomes

Transaction Success

  • Seamless Execution: Contributed to successful completion of one of the largest renewable energy acquisitions
  • Technical Insights: Provided critical analysis supporting investment decisions
  • Portfolio Evaluation: Delivered comprehensive assessment of diverse assets
  • Risk Management: Identified and addressed potential challenges

Client Relations

  • Enhanced Trust: Demonstrated reliability and technical proficiency
  • Future Opportunities: Established foundation for continued collaboration
  • Value Delivery: Ensured client satisfaction through quality work
  • Relationship Building: Strengthened professional partnerships

Lessons Learned

  1. Scale Management: Successfully coordinating large-scale acquisitions requires robust project management
  2. Technical Integration: Effective collaboration across disciplines is essential for comprehensive due diligence
  3. Quality Control: Maintaining high standards across multiple projects is crucial
  4. Client Communication: Clear and consistent communication is key to successful transactions

Looking Forward

This acquisition demonstrates:

  • The growing scale of renewable energy transactions
  • The importance of thorough technical due diligence
  • The value of experienced project management
  • The potential for future large-scale renewable energy deals

Further Reading