American Electric Power Company Inc. (AEP) “still plans to pursue a big chunk of new renewable energy projects in Ohio,” but wants state regulators to clarify some issues first, Columbus Business First reports. AEP’s income-guarantee proposal included a commitment to add 500 megawatts (MW) of wind power and 400 MW of solar power generation; state regulators “approved the overall plan” in March of this year.
However, the utility recently “said it would drop most of the proposal after the Federal Energy Regulatory Commission stepped in and said it needed to review the deal,” according to the article. AEP said “it wants to pursue the renewable energy portion of the proposal,” if the Public Utilities Commission of Ohio (PUCO) will “clarify or reverse its positions that AEP focus first on solar projects,” as well as “ensure that AEP can own up to half of the projects.”
Delaying the wind projects could cause AEP to miss out on federal wind tax credits. For more, read the full article.
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