ATEL Leasing announced the recent acquisition of a coal transfer facility valued at $32 million leased to a subsidiary of American Electric Power, a U.S. electric utility supplying over 5 million customers in 11 states.

“ATEL is pleased to provide lease financing for this strategic facility that is used to distribute coal to power plants along the Ohio River,” said Dean Cash, president and CEO of ATEL. “For over 100 years, AEP has demonstrated the innovation and made the strategic investments in infrastructure to ensure they can provide customers with safe, reliable power for years to come. This transaction with AEP adds another outstanding asset to our Fortune 500 portfolio.”

ATEL Capital Group is an international financial services company that for over 35 years has offered its clients financial solutions including equipment leasing, asset-based lending, venture finance, lease administration and asset management.