AEP to invest in 1.5 GW of US wind projects

American Electric Power Inc announced that its Public Service Co. of Oklahoma (PSO) and Southwestern Electric Power Co. (SWEPCO) companies are seeking regulatory approvals to purchase three wind projects, totaling 1,485 MW, that are currently under development in Oklahoma.

The projects include a 999-MW wind facility being built north of Weatherford, a 287-MW wind facility being built southwest of Enid, and a 199-MW facility being built south of Alva. They are being developed by Invenergy. These projects were selected after competitive Request for Proposals to procure low-cost wind generation options for PSO and SWEPCO customers. The 199-MW project is projected to be completed by the end of 2020. The other projects will be completed by the end of 2021. Collectively, the three wind projects would provide more than 5.7 million megawatt-hours of new wind energy annually to serve customers in Arkansas, Louisiana, Oklahoma and Texas.

If approved, total investment in the wind projects would be nearly USD 2 billion, inclusive of all costs. Adding this generation is expected to save SWEPCO and PSO customers approximately USD 3 billion, net of cost, over 30 years.

If approved as proposed, SWEPCO would own 810 MW of wind generation, approximately 55% of the projects. PSO would own 675 MW of wind generation, approximately 45% of the projects. The projects are subject to regulatory approvals in Arkansas, Louisiana, Oklahoma and Texas, as well as from the Federal Energy Regulatory Commission. The amount of generation acquired by PSO or SWEPCO can be scaled, subject to commercial limitations, to align with individual state resource needs as determined by the respective state commissions.