Electric utility American Electric Power said it will invest US$4.5 billion to build a new 2,000-megawatt wind farm and dedicated power lines across four U.S. states.
The plans call for construction of about 350-miles of extra-high voltage power line and expansive wind farm in the western panhandle of Oklahoma, driving demand for breakbulk transport across the region.
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. 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,” said Nicholas K. Akins, CEO of AEP.
The wind farm will be developed by AEP’s utility subsidiaries Public Service Co. of Oklahoma, or PSO, and Southwestern Electric Power, or SWEPCO. The project is expected to save SWEPCO and PSO customers more than US$7 billion, net of cost, over 25 years.
Photo: AEP plans 2,000 megawatts of new power in the western panhandle of Oklahoma. Credit: Wikimedia