American Electric Power seeking approvals to purchase three wind projects in Oklahoma
American Electric Power (AEP) announced Monday that its Public Service Company of Oklahoma (PSO) and Southwestern Electric Power Company (SWEPCO) are seeking regulatory approvals to purchase three wind projects, which total 1,485 megawatts (MW) and are currently under development in Oklahoma.
The projects include a 999-MW wind facility north of Weatherford, a 287-MW wind facility southwest of Enid and a 199-MW facility south of Alva. They are being developed by Invenergy and were selected after competitive Request for Proposals (RFPs). The 199-MW project is expected to be completed by the end of 2020, while the other projects are expected to be completed by the end of 2021. The projects will serve customers in Arkansas, Louisiana, Oklahoma, and Texas.
If approved, the total investment in the projects would be approximately $2 billion, inclusive of all costs. The generation from the facilities is expected to save SWEPCO and PSO customers roughly $3 billion, net of cost, over 30 years, AEP said.
“AEP continues to add clean, renewable generation to our power plant fleet, driven by the expectations of our customers and technology advances,” Nicholas K. Akins, AEP chairman, president and CEO, said. “Purchasing these wind facilities is consistent with our strategy of investing in the energy resources of the future, and it will save our customers money while providing significant economic benefits to local communities. This renewable generation will enable us to provide our PSO and SWEPCO customers with the affordable, reliable, and clean power they have said they want.”
If approved as proposed, SWEPCO would own 810 MW of wind generation, and PSO would own 675 MW of wind generation. The projects are subject to regulatory approvals in Arkansas, Louisiana, Oklahoma, and Texas and from the Federal Energy Regulatory Commission.
