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AEP eyes $1bn renewables spend

Clean power projects already sourced in nine US states

AEP eyes $1bn renewables spend image

American Electric Power (AEP) is planning to invest about $1bn in renewable energy projects between 2017 and 2019.

AEP recently formed new subsidiaries – AEP OnSite Partners and AEP Renewables – to invest in renewable generation, energy storage and combined heat and power projects.

The company said the subsidiaries already have projects in nine states with a “strong pipeline of additional opportunities”.

The renewables investment is part of wider capital plans totaling $17.3bn to support higher operating earnings growth, the company said.

Image: AEP

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