American Electric Power announces $4.5 billion megawatt wind farm, dedicated power line project
A new major clean energy project expected to provide approximately 9 million megawatt hours (MWh) of new wind energy annually to consumers in Arkansas, Louisiana, Oklahoma, and Texas was recently announced by American Electric Power (AEP).
Two utility subsidiaries of AEP, Public Service Co. (PSO) of Oklahoma and Southwestern Electric Power Co., (SWEPCO) will soon ask regulators in the four states to approve a plan to purchase a 2,000 MW wind farm currently under construction in western Oklahoma. The request will also include the construction of an approximate 350 mile dedicated extra-high voltage power line to deliver renewable energy to the four states.
“We are diversifying our generation mix to include more renewables, and we’re also investing in a smarter, more efficient and resilient electricity grid to support these new resources and technologies,” Nicholas K. Atkins, chairman, president, and CEO of AEP, said. “This project is consistent with our strategy of investing in the energy resources of the future, and it will save our customers money while providing economic benefits to communities.”
According to AEP, the $4.5 billion project is expected to result in SWEPCO and PSO customers saving more than $7 billion, net of cost, over the next 25 years.
Approximately 4,000 direct and 4,400 indirect jobs will be supported annually during construction, with 80 permanent jobs remaining once the project becomes operations. AEP said that it expects to contribute approximately $300 million in property taxes over the life of the project.
