AEP Generation Resources reached an agreement to transfer operational responsibility for three Ohio generation facilities to Buckeye Power Inc.
The facilities are the 1,800-MW Cardinal generating station, the 200-MW Greenville natural gas peaking station and the 510-MW Robert P. Mone natural gas peaking station.
Under the agreement, AEP Generation Resources will still own the 590-MW Cardinal unit 1 and Buckeye Power will still own the facility's 590-MW unit 2 and the 620-MW unit 3.
The staff of the Cardinal facility will become employees of the Cardinal Operating Company, a joint venture of American Electric Power Co. Inc. and Buckeye Power which operates the plant. Meanwhile, the staff of the Greenville and Robert P. Mone facilities will become employees of Buckeye Power.
The agreement is subject to lender approval, expected to be issued in the first quarter of 2018.
Buckeye Power is the generation and transmission cooperative of Ohio's Electric Cooperatives.