American Electric Power (AEP) says it will continue its progress toward a clean energy future by investing in its regulated businesses and renewable energy generation.
The company plans to invest $ 37 billion in capital from 2021 to 2025, with the majority going to regulated businesses and renewable energy. AEP’s capital plan includes investments in transmission and distribution operations of $ 26.7 billion to further upgrade infrastructure and implement new technology for the benefit of customers. During the same period, AEP plans to invest $ 2.8 billion in regulated renewable energy generation and $ 2.1 billion in competitive, contracted renewable projects.
“As we move from AEP to a cleaner energy future, we are creating new solutions for customers while adding value to our shareholders,” said Nicholas K. Akins, Chairman, President and CEO of AEP. “The company’s capital investments reflect our commitment to improving service and providing reliable, clean energy and advanced technologies that exceed our customers’ expectations.”
AEP, based in Columbus, Ohio, is focused on building smarter energy infrastructure and delivering new technology and custom energy solutions to its customers. The company is one of the largest electricity producers in the country with around 30,000 MW of different generation capacities, including more than 5,300 MW of renewable energy.
For more information on the advancement of AEP’s renewable energy generation, please click here.