AEP Energy Signs PPA For Output From New 400-MW Wind Project In Illinois

Rhea-AI Summary

American Electric Power's AEP Energy has entered a long-term power purchase agreement with Copenhagen Infrastructure Partners for 400 MW of renewable energy from the Panther Grove Wind Energy Facility in Illinois. Construction is set to begin in early 2021, with commercial operations anticipated in late 2022. This renewable energy will support clients like Google, ensuring 100% clean energy for their New Albany data center. AEP Energy, a retail electricity provider, aims to offer integrated carbon-free energy solutions to enhance customer sustainability and price stability.

Positive

• Signing of a long-term power purchase agreement for 400 MW of renewable energy.
• Collaboration with a significant client, Google, for clean energy supply.
• Commitment to providing 100% renewable energy to clients enhances sustainability.

Negative

• None.

COLUMBUS, Ohio, July 1, 2020 /PRNewswire/ -- American Electric Power's (NYSE: AEP) AEP Energy subsidiary has signed a long-term power purchase agreement with an affiliate of Copenhagen Infrastructure Partners (CIP) for the output of 400 megawatt (MW) of renewable energy from Panther Grove Wind Energy Facility in Woodford County, Illinois.  

Construction of Panther Grove is scheduled to begin in early 2021, with commercial operation expected in late 2022.

AEP Energy will use the power from Panther Grove to serve customers, such as Google, who want clean energy for their retail supply. The Panther Grove project will contribute renewable power for Google's New Albany, Ohio, data center, which AEP Energy will supply and match their load on an annual basis with 100% renewable energy from new resources.

"AEP Energy is focused on providing customers with integrated, carbon-free energy supplies that deliver long-term price stability and environmental benefits. Agreements like the one with CIP demonstrate the innovative energy solutions we can put in place to help our customers power their homes and businesses with clean, reliable energy," said Greg Hall, president, AEP Energy.

AEP Energy, a subsidiary of American Electric Power (NYSE: AEP), is a certified competitive retail electricity and natural gas supply provider operating in 28 service territories in six states and Washington, D.C. AEP Energy supplies electricity and natural gas solutions for over 500,000 residential and business customers and takes pride in making it easy for customers to buy, manage and use energy. Based in Columbus, Ohio and Chicago, Illinois, AEP Energy is committed to excellence by delivering value, innovative energy solutions and excellent customer service.

American Electric Power, based in Columbus, Ohio, is focused on building a smarter energy infrastructure and delivering new technologies and custom energy solutions to our customers. AEP's approximately 17,400 employees operate and maintain the nation's largest electricity transmission system and more than 221,000 miles of distribution lines to efficiently deliver safe, reliable power to nearly 5.5 million regulated customers in 11 states. AEP also is one of the nation's largest electricity producers with approximately 31,000 megawatts of diverse generating capacity, including more than 5,200 megawatts of renewable generation. AEP's family of companies includes utilities 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 also owns AEP Energy, AEP Energy Partners, AEP OnSite Partners, and AEP Renewables, which provide innovative competitive energy solutions nationwide.

 

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SOURCE American Electric Power

FAQ

What is the significance of AEP's new power purchase agreement with Copenhagen Infrastructure Partners?

The agreement signifies AEP Energy's commitment to renewable energy, enabling the supply of 400 MW to major clients such as Google.

When is the Panther Grove Wind Energy Facility expected to start operations?

The Panther Grove Wind Energy Facility is scheduled to begin commercial operations in late 2022.

How will the Panther Grove project benefit Google's New Albany data center?

The project will provide Google with 100% renewable energy required for its New Albany data center.

What does AEP Energy aim to achieve with its integrated carbon-free energy solutions?

AEP Energy aims to deliver long-term price stability and environmental benefits through its carbon-free energy solutions.

What is AEP's overall capacity in renewable energy generation?

AEP operates with over 5,200 megawatts of renewable generation capacity as part of its diverse energy portfolio.