AEP Operating Units Add Another 250 MW of Renewable Energy to Serve Customers in Indiana, Michigan, Ohio, Virginia and West Virginia
AEP achieves more than 90 percent of 1,000-megawatt wind energy goal
COLUMBUS, Ohio, Feb. 10 /PRNewswire-FirstCall/ -- American Electric Power
(NYSE: AEP) operating units have signed power purchase agreements for
renewable wind energy totaling approximately 250 megawatts (MW) to serve
customers in Indiana, Michigan, Ohio, Virginia and West Virginia. With these
new agreements, AEP has contracted for 903.4 MW of wind generation capacity
since 2007, when the company committed to adding 1,000 MW of renewable wind
energy to its generation mix by 2011.
AEP's Appalachian Power unit has contracted to purchase 100.5 MW from a
wind farm in LaSalle County, Ill., that is being developed by Invenergy Wind
LLC. AEP Ohio will purchase 100 MW from a wind farm in Benton County, Ind.,
that is being developed by BP Wind Energy. AEP's Indiana Michigan Power unit
will purchase another 50 MW from the same wind farm in Benton County. All of
the power purchase agreements are for 20 years. Pricing terms are
confidential.
"Since we built the first utility-scale wind farm in Texas nearly 14 years
ago, AEP has supported the development of renewable generation to help
diversify the U.S. electricity generation mix and reduce greenhouse gas
emissions," said Michael G. Morris, AEP chairman, president and chief
executive officer. "We have been able to effectively execute our aggressive
plan to add 1,000 megawatts of wind energy to serve our customers in just a
few years due to the rapid growth in U.S. wind projects. That growth has been
fueled, in part, by federal tax credits that support renewable energy
development. Those credits should be extended, as proposed in the current
economic stimulus plan, to encourage renewable energy developers and equipment
manufacturers to make additional investments in facilities that will support
the U.S. economy.
"Continuing rapid expansion of renewable electricity generation in the
United States also requires a federal plan for an extra-high voltage
transmission superhighway to move renewable energy from where it is most
abundant and viable to population and electricity load centers. That plan must
include federal oversight for siting and widespread cost allocation for these
long-distance, extra-high voltage transmission projects. Without mechanisms to
support faster development of an efficient, extra-high voltage interstate
transmission system, we won't be able to achieve renewable electricity
generation at 20 to 30 percent levels in our country," Morris said.
When the wind generation from these new contracts is on line, AEP's
generation mix will include 310 MW of wind turbines owned and operated by AEP
in Texas and another 1,371 MW of long-term wind energy purchase agreements for
a total of 1,681 MW of wind energy in the company's generation portfolio.
American Electric Power is one of the largest electric utilities in the
United States, delivering electricity to more than 5 million customers in 11
states. AEP ranks among the nation's largest generators of electricity, owning
nearly 38,000 megawatts of generating capacity in the U.S. AEP also owns the
nation's largest electricity transmission system, a nearly 39,000-mile network
that includes more 765-kilovolt extra-high voltage transmission lines than all
other U.S. transmission systems combined. AEP's transmission system directly
or indirectly serves about 10 percent of the electricity demand in the Eastern
Interconnection, the interconnected transmission system that covers 38 eastern
and central U.S. states and eastern Canada, and approximately 11 percent of
the electricity demand in ERCOT, the transmission system that covers much of
Texas. AEP's utility units operate as AEP Ohio, AEP Texas, Appalachian Power
(in Virginia and West Virginia), AEP Appalachian Power (in Tennessee), Indiana
Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and
Southwestern Electric Power Company (in Arkansas, Louisiana and east Texas).
AEP's headquarters are in Columbus, Ohio.