AEP Clean Energy Resources, LLC entered into an agreement to acquire Sempra Renewables, LLC from Sempra Energy (NYSE:SRE) for approximately $1.1 billion on February 12, 2019. The consideration of the transaction includes $551 million in cash, assumption of $343 million in existing project debt and $162 million in tax equity obligation. The final acquisition cost will be subject to closing and working capital adjustments. The acquisition agreement of Sempra Renewables includes the Black Oak Getty Wind project in Minnesota and the Apple Blossom Wind project in Michigan, as well as its interests in the following projects jointly owned with BP Wind Energy: Auwahi Wind in Hawaii (wind and battery storage), Flat Ridge 2 Wind in Kansas, Mehoopany Wind in Pennsylvania, Cedar Creek2 Wind in Colorado, and Fowler Ridge 2 Wind in Indiana. BP Wind Energy will retain its ownership share of Wind Portfolio projects. The transaction will be funded by a combination of debt, equity, and/or equity-linked securities. The acquisition is subject to customary closing conditions and consents, including Federal Energy Regulatory Commission and Hart-Scott-Rodino Antitrust Improvements Act approvals. As of March 8, 2019, FTC granted early termination notice. Transaction is expected to close in the second quarter of 2019. As of March 27, 2019, the deal is expected to close in second half of April 2019. Transaction is expected to be immediately accretive to earnings. Wells Fargo Securities LLC acted as financial advisor and Bryan Cave Leighton Paisner LLP acted as legal advisor for AEP. Credit Suisse (USA), Inc. and JPMorgan Chase & Co. (NYSE:JPM) acted as financial advisors and Sony Ben-Moshe, Edward Sonnenschein, Amanda Reeves and Michael Sullivan of Latham & Watkins LLP acted as legal advisors for Sempra Energy. AEP Clean Energy Resources, LLC completed the acquisition of Sempra Renewables, LLC from Sempra Energy (NYSE:SRE) on April 22, 2019. AEP will pay Sempra $584 million in cash, which includes $33 million in working capital, and assume $470 million in existing project debt and tax equity obligations, subject to adjustments. Twenty employees will join AEP from Sempra Renewables.