Home / Wind Energy / American Electric Power to invest $4.5bn to buy 2GW wind farm
American Electric Power to invest $4.5bn to buy 2GW wind farm
American Electric Power to invest $4.5bn to buy 2GW wind farm

American Electric Power to invest $4.5bn to buy 2GW wind farm

American Electric Power has actually revealed a $ 4.5 bn financial investment to purchase a 2GW wind ranch, which is presently incomplete by Invenergy in the western panhandle of Oklahoma.

The clean energy job referred to as Wind Catcher Energy Link is anticipated to provide concerning 9 million megawatt-hours of wind power every year to AEP’s consumers in 4 US states.

To acquire the wind ranch, AEP’s energy subsidiaries Civil service Co. of Oklahoma (PSO) and also Southwestern Electric Power (SWEPCO) are looking for authorization from the energy regulatory authorities in Arkansas, Louisiana, Oklahoma as well as Texas.

SWEPCO and also PSO are additionally looking for authorization to develop an around 350-mile extra-high voltage high-voltage line to supply the renewable energy to clients.

The job is anticipated to cause over $ 7bn financial savings for SWEPCO as well as PSO clients over a duration of 25 years.

American Electric Power chairman, head of state and also ceo Nicholas Akins stated: “This job follows our approach of buying the energy resources of the future, and also it will certainly conserve our clients loan while offering financial advantages to areas.”

The building and construction stage of the job is anticipated to develop about 4,000 straight and also 4,400 indirect tasks each year.

While SWEPCO will certainly possess 70% risk in the job, consisting of 1,400 MW of wind power, PSO will certainly hold 30% risk.

The Wind Catcher center will certainly showcase 800 GE 2.5 megawatt turbines.

For the agreement, GE will certainly produce all maker heads and also centers in the United States, and also added elements in Louisiana, Arkansas, Texas and also Oklahoma.

Building of the Wind Catcher center started in 2015 and also it is anticipated to be completely functional in mid-2020.

The job goes through regulative authorizations in Arkansas, Louisiana, Oklahoma and also Texas in addition to the Federal Energy Regulatory Payment.

Besides, the AEP’s energy firms have actually requested authorizations for an additional 1,350 MW of wind and also solar generation.

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Image: The Wind Catcher facility will feature 800 GE 2.5 megawatt turbines. Photo courtesy of GE Renewable Energy.

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