American Electric Power (AEP) says it will continue its progress toward a clean energy future by investing in its regulated businesses and renewable generation.
The company plans to invest $37 billion in capital from 2021 through 2025, with the bulk allocated to regulated businesses and renewables. AEP’s capital plan includes $26.7 billion in transmission and distribution operations investments to continue updating infrastructure and implementing new technologies to benefit customers. During the same period, AEP plans to invest $2.8 billion in regulated renewable generation and $2.1 billion in competitive, contracted renewable projects.
“As AEP transitions to a cleaner energy future, we’re creating new solutions for customers, while also bringing value to our shareholders,” says Nicholas K. Akins, chairman, president and CEO of AEP. “The company’s capital investments reflect our commitment to enhancing service and delivering reliable, clean energy and advanced technologies that exceed our customers’ expectations.”
AEP, based in Columbus, Ohio, is focused on building a smarter energy infrastructure and delivering new technologies and custom energy solutions to its customers. The company is one of the nation’s largest electricity producers with approximately 30,000 MW of diverse generating capacity, including more than 5,300 MW of renewable energy.
For more information on AEP’s renewable generation progress, click here.