Tokyo-based Electric Power Subsidiary partners with AP Solar in 400 MW Texas Solar Project

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Texas Solar Project Sold to CIP

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Industry News

AEP Will Proceed with North Central Wind Projects Despite Texas Commission Denying Approval

LCG, July 8, 2020--American Electric Power (AEP) announced last Thursday that, following the Public Utility Commission of Texas not approving AEP subsidiary Southwestern Electric Power Co.'s (SWEPCO) plan to add 309 MW of wind energy to serve Texas customers, AEP will proceed to acquire the entire planned 1,485 MW of North Central wind projects. AEP has received the other regulatory approvals needed to acquire the three wind projects located in north central Oklahoma. AEP will invest approximately $2 billion to bring additional renewable energy to Public Service Company of Oklahoma (PSO) customers and SWEPCO customers in Arkansas and Louisiana.

AEP's chairman, president and chief executive officer said, "We are disappointed that our SWEPCO customers in Texas will not be able to benefit from the low-cost wind energy the North Central projects will provide. The regulatory approvals we have received in Arkansas, Louisiana, Oklahoma and at the Federal Energy Regulatory Commission will allow us to move ahead with the North Central wind projects at full scale, saving our customers in those states approximately $3 billion over the next 30 years. As we transition to a clean energy future, our investment in the North Central wind projects supports economic and business development in our communities and will help our customers meet their renewable energy goals."

The North Central wind projects, developed by Invenergy, consist of three energy facilities: Sundance (199 MW), Traverse (999 MW), and Maverick (287 MW). The estimated capacity factor for the wind farms is 44 percent. Sundance is expected to be completed by the end of 2020, and the other two projects in the next two years.

AEP's SWEPCO and PSO operating units announced last July that they would seek regulatory approvals to purchase the three wind projects. PSO received approval from the Oklahoma Corporation Commission in February, and the Federal Energy Regulatory Commission (FERC) also approved the acquisitions in February. The Arkansas and Louisiana Public Service Commissions approved the projects in May.

PSO will acquire 675 MW of the North Central wind projects to serve its customers in Oklahoma. The Arkansas and Louisiana commissions approved options to increase their allocations of wind energy if another state did not approve the projects. With these options, an estimated 464 MW will be allocated to Louisiana and 268 MW to Arkansas, while wholesale customers will benefit from 78 MW for a total of 810 MW that will serve SWEPCO's customers.

AEP's regulated integrated resource plans (IRPs) call for installing over 8,000 MW of wind and solar and 1,600 MW of natural gas between 2020 and 2030, and proceeding with the installation of 1,485 MW of new wind turbine capacity will be a significant step toward implementing those plans.
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