By Stephen Nakrosis
American Electric Power Co. on Thursday said it intends to move forward with a $2 billion investment in renewable energy projects to serve customers in Arkansas, Louisiana and Oklahoma.
The company also said the Public Utility Commission of Texas denied approval of a Southwestern Electric Power Co. plan to add 309 megawatts of wind energy to serve customers in Texas.
"We are disappointed that our SWEPCO customers in Texas will not be able to benefit from the low-cost wind energy the North Central projects will provide," said Nicholas K. Akins, AEP's chairman, president and chief executive. He added, "The regulatory approvals we have received in Arkansas, Louisiana, Oklahoma and at the Federal Energy Regulatory Commission will allow us to move ahead with the North Central wind projects at full scale, saving our customers in those states approximately $3 billion over the next 30 years."
AEP said the North Central project includes three wind generation facilities located in north central Oklahoma, which are expected to be completed within the next two years.
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