AEP Energy Signs PPA for Output from New Savion 200-MW Solar Project in Central Ohio
American Electric Power's (AEP) subsidiary, AEP Energy Partners, has entered into a long-term power purchase agreement (PPA) with the Atlanta Farms Solar Project in Ohio, which is set to deliver 200 MW of renewable energy. Construction will begin in mid-to-late 2021, pending permit approval, with operations expected by the end of 2022. AEP Energy aims to supply clean energy to residential and business customers, enhancing sustainable energy solutions. This initiative reflects AEP's commitment to integrating carbon-free energy sources and supporting local economies.
- Long-term PPA signed for 200 MW output, indicating strong future revenue potential.
- Supports AEP's strategy for renewable energy integration and carbon-free solutions.
- None.
COLUMBUS, Ohio, Oct. 29, 2020 /PRNewswire/ -- American Electric Power's (NASDAQ: AEP) AEP Energy Partners subsidiary has signed a long-term power purchase agreement with Atlanta Farms Solar Project, currently being developed by Savion, a renewable energy developer, for the project's planned 200 MW output in Pickaway Co. Ohio.
Construction of Atlanta Farms is scheduled to begin mid-to-late 2021, pending the approval of its permit with the Ohio Power Siting Board (OPSB). The project is anticipated to include approximately 600,000 solar panels capable of producing 200 MW of renewable energy and is expected to be operational by the end of 2022.
AEP Energy will use the power from Atlanta Farms to serve customers who want clean energy for their retail supply. Atlanta Farms Solar Project also would contribute renewable energy to supply the City of Columbus if the City's aggregation proposal is passed in November and receives approval from City Council.
"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 Atlanta Farms Solar Project demonstrate the innovative energy solutions we can put in place to support development of new, in-state clean energy resources to boost local economies and help our customers power their homes and businesses with clean, reliable energy," said Greg Hall, president, AEP Energy.
"The signed agreement between AEP Energy Partners and Atlanta Farms Solar Project is the result of hard work and dedication from teams across both organizations. Savion truly appreciates the partnership with AEP on this important endeavor," said Jeff James, senior vice president commercial transactions for Savion. "This marks another achievement in solar energy growth for the state of Ohio while helping to fulfill AEP Energy's commitment to its partners' renewable energy portfolios and sustainability goals. We are thankful to be part of another great AEP Energy renewable energy milestone."
AEP Energy, a subsidiary of American Electric Power (NASDAQ: 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 more than 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, 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 30,000 megawatts of diverse generating capacity, including more than 5,300 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.
View original content to download multimedia:http://www.prnewswire.com/news-releases/aep-energy-signs-ppa-for-output-from-new-savion-200-mw-solar-project-in-central-ohio-301162805.html
SOURCE American Electric Power
FAQ
What is the significance of AEP's power purchase agreement with the Atlanta Farms Solar Project?
When is the construction of the Atlanta Farms Solar Project expected to begin?
What are the expected operational dates for the Atlanta Farms Solar Project?
How does the Atlanta Farms project contribute to AEP's goals?
What impact will the Atlanta Farms Solar Project have on local economies?
