American Electric Power (AEP) is canceling the Wind Catcher project as a result of the Public Utility Commission of Texas’ July 26 decision to deny approval of the project. The project had been approved by the Arkansas Public Service Commission, Louisiana Public Service Commission, and Federal Energy Regulatory Commission. A decision was pending at the Oklahoma Corporation Commission.
AEP cancels the $4.5 billion, 2-GW Wind Catcher Energy Connection project after Texas denies approval.
“We are disappointed that we will not be able to move forward with Wind Catcher, which was a great opportunity to provide more clean energy, lower electricity costs and a more diverse energy resource mix for our customers in Arkansas, Louisiana, Oklahoma and Texas,” said Nicholas K. Akins, AEP chairman, president and chief executive officer.
“To realize the full benefits of Wind Catcher for customers, timely approvals were required from all jurisdictions so we could complete the project by the end of 2020 and be eligible for 100% of the federal production tax credit.”
AEP plans to invest $24 billion in 2018 through 2021 to rebuild and enhance aging infrastructure, add advanced technologies to the energy system and create a more reliable and resilient grid to enhance service for customers.
“The strategic investments we are making in AEP’s regulated businesses will continue to support our 5 to 7% earnings growth rate,” added Akins. “We are investing in a cleaner, smarter energy system for our customers and will continue to pursue opportunities to provide the new energy resources and technology solutions that bring value to our customers.”
AEP, based in Columbus, Ohio, says it is focused on building a smarter energy infrastructure and delivering new technologies and custom energy solutions to our customers. AEP’s more than 17,000 employees operate and maintain the nation’s largest electricity transmission system and more than 224,000 miles of distribution lines to efficiently deliver safe, reliable power to nearly 5.4 million regulated customers in 11 states.
Filed Under: News, Projects
