AEP is an infrastructure fund manager focused on utility-scale renewable energy assets. In 2025, AEP partnered with Siemens Gamesa to advance the development and construction of the 500 MW NIAT Wind Project in Egypt. In September 2026, Alcazar reached financial close on the $209 million, 131.25 MW first phase of the 396 MW Štip Wind Farm in North Macedonia, backed by the EBRD, IFC, and Erste Group.