US-based investor-owned electric utility American Electric Power’s (AEP) companies Public Service of Oklahoma (PSO) and Southwestern Electric Power (SWEPCO) are planning to acquire three wind projects in Oklahoma.
PSO and SWEPCO are currently seeking regulatory approvals to acquire the windfarms which will have a combined capacity of 1,485MW. They are currently in the development stage.
The projects include a 999MW wind facility near Weatherford, whilst the second facility has a capacity of 287MW and is being built southwest of Enid. The third facility has a 199MW capacity and is located southwest of Enid.
The 199MW facility is slated for completion by the end of 2020 whilst the other two will be completed by the end of 2021.
All three windfarms are being developed by Invenergy and will have the capacity to generate more than 5.7 million megawatt-hours of new wind energy annually to serve customers in Arkansas, Louisiana, Oklahoma and Texas.
AEP chairman, president and CEO Nicholas Akins said: “AEP continues to add clean, renewable generation to our power plant fleet, driven by the expectations of our customers and technology advances.
“Purchasing these wind facilities is consistent with our strategy of investing in the energy resources of the future, and it will save our customers money while providing significant economic benefits to local communities.
“This renewable generation will enable us to provide our PSO and SWEPCO customers with the affordable, reliable and clean power they have said they want.”
Total investment in the wind projects would be nearly $2bn and they are expected to save SWEPCO and PSO customers approximately $3bn over 30 years.
SWEPCO would own 810MW of wind generation, which is nearly 55% of the project’s capacity, and PSO will own the other 675MW.
The projects are subject to regulatory approvals in Arkansas, Louisiana, Oklahoma and Texas, as well as from the Federal Energy Regulatory Commission (FERC).