American Electric Power’s Public Service Co. of Oklahoma and Southwestern Electric Power Co. are seeking to purchase three wind projects, totaling 1,485 megawatts, that are currently under development in Oklahoma. If approved, total investment in the wind projects would be nearly $2 billion, inclusive of all costs.
Adding this generation is expected to save SWEPCO and PSO customers approximately $3 billion, net of cost, over 30 years.
One project, north of Weatherford, is projected to be completed by the end of 2020. The other projects, southwest of Enid and south of Alva, will be completed by the end of 2021. Collectively, the three wind projects would provide more than 5.7 million megawatt-hours of new wind energy annually to serve customers in Arkansas, Louisiana, Oklahoma and Texas.
“Purchasing these wind facilities is consistent with our strategy of investing in the energy resources of the future, and it will save our customers money while providing significant economic benefits to local communities,” Columbus-based AEP CEO Nicholas K. Akins said in a statement.