AES to Sell 30% Stake in Ohio Utility to CDPQ for $546 Million

AES Corp. reached an agreement to sell a 30% indirect equity interest in utility AES Ohio to Caisse de Dépôt et Placement du Québec for about $546 million.

The deal adds to an existing partnership with CDPQ at AES Indiana, the companies said in a statement Tuesday. The Canadian investment group’s partnership with AES will bring continued funding to support growth for both utilities, they said.

In recent years, power companies looking to raise capital for new projects have sold minority stakes in utilities and transmission assets in lieu of offering equity that risks diluting existing shareholders. The latest deal ...