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AEP to Invest $2.7 Billion in Renewables Over Five Years in Transition to Cleaner Resource Mix

American Electric Power Company Inc. announced a $33 billion capital investment plan from 2019 through 2023, with 75 percent focused on its transmission and distribution operations, according to a Nov. 11 news release. The plan includes $2.7 billion for new renewable generation, including about $2.2 billion for competitive, contracted projects. The company said the transition to cleaner resources will continue as it pursues an emissions reduction goal of 60 percent by 2030 relative to 2000 levels. AEP intends to add 8.3 gigawatts of wind and solar generation and over 2.6 gigawatts of natural gas generation to its regulated generation fleet by 2030.

November 11, 2018
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