STOCK TITAN

AEP ENERGY PARTNERS SEEKS SOLAR AND WIND PROJECTS IN PJM

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary

AEP Energy Partners, a subsidiary of American Electric Power (Nasdaq: AEP), is soliciting proposals for renewable energy purchase agreements from new and existing solar and wind facilities in the PJM service region. This initiative aims to meet the rising retail and wholesale energy demands in Ohio, particularly aligned with the new Columbus Electric Service Aggregation Program. Proposals are sought for durations of 10 to 15 years for new projects and 5 to 15 years for existing projects. Deadline for bid submissions is April 28, 2022.

Positive
  • AEP Energy Partners seeks to expand renewable energy sources to meet growing retail and wholesale demands.
  • The initiative aligns with the Columbus Electric Service Aggregation Program, potentially increasing market share.
Negative
  • None.

COLUMBUS, Ohio, April 4, 2022 /PRNewswire/ -- AEP Energy Partners (AEPEP), a wholly owned subsidiary of American Electric Power (Nasdaq: AEP) company, seeks proposals for off-take from new and existing solar and wind facilities located in the PJM service region to support the company's growing retail and wholesale loads in Ohio including the recently passed Columbus, Ohio Electric Service Aggregation Program.

AEPEP is seeking renewable energy purchase agreements of 10, 12 or 15 years for new solar or wind projects and 5 to 15 years for existing projects (including incremental power from re-powering wind sites). 

Notice of intent to bid must be received by AEPEP on or before Friday, April 13, 2022. Proposal packages are due no later than 5 p.m. EST, Friday, April 28, 2022 and should be submitted by email to abgough@aepes.com. Complete details about the Requests for Proposals are available on AEP's website or by calling Andrew Gough (614) 214-8009.

About AEP and AEP Energy Partners
American Electric Power (Nasdaq: AEP) subsidiaries AEP Renewables, AEP Energy, OnSite Partners, and AEP Energy Partners, deliver a wide array of innovative competitive energy solutions nationwide. As one of the largest wholesale suppliers in the country, AEP Energy Partners specializes in offering customized wholesale power supply products based on the specific needs of customers' electric systems within ERCOT, MISO, PJM and SPP. AEP Energy Partners also sells renewable energy through long-term contracts with utilities, electric cooperatives, municipalities and corporate customers. With a commitment to a clean energy future, AEP's competitive businesses currently own over 1,900 megawatts of wind, solar and energy storage on both a utility scale and distributed scale basis.  Solving energy problems for customers, AEP Energy Partners and its competitive affiliates own and operate over 90 behind-the-meter projects in 26 different states and have an active development pipeline across the U.S. As a competitive retail electricity and natural gas supplier, AEP Energy serves over 700,000 residential and business customers in 28 service territories in six states and Washington, D.C. Based in Columbus, Ohio, Chicago, Illinois and San Diego, California, AEP's family of competitive companies takes pride in making it easy for customers and partners to buy, manage and use energy. For more information, visit https://www.aep.com/about/businesses/aepenergypartners

(PRNewsfoto/American Electric Power)

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/aep-energy-partners-seeks-solar-and-wind-projects-in-pjm-301516762.html

SOURCE American Electric Power

FAQ

What is AEP Energy Partners seeking in their April 2022 press release?

AEP Energy Partners is seeking proposals for renewable energy purchase agreements from solar and wind facilities in the PJM service region.

What are the proposal deadlines mentioned in AEP Energy Partners' April 2022 announcement?

The notice of intent to bid is due by April 13, 2022, and proposal packages must be submitted by April 28, 2022.

How long are the renewable energy purchase agreements being sought by AEP Energy Partners?

AEP Energy Partners is looking for agreements lasting 10 to 15 years for new projects and 5 to 15 years for existing projects.

What is the significance of the Columbus Electric Service Aggregation Program for AEP Energy Partners?

The program supports AEP Energy Partners' strategy to meet increasing energy demands in Ohio.

What regions are affected by AEP Energy Partners' RFP for renewable energy?

The RFP targets renewable energy facilities within the PJM service region.

American Electric Power Company, Inc.

NASDAQ:AEP

AEP Rankings

AEP Latest News

AEP Stock Data

49.10B
532.29M
0.04%
80.74%
1.43%
Utilities - Regulated Electric
Electric Services
Link
United States of America
COLUMBUS