AEP seeks to buy wind-energy projects

American Electric Power said Monday that it wants to buy three wind-energy projects being developed in Oklahoma as it continues its push for electricity from cleaner, renewable sources.

The three projects would generate 1,485 megawatts of wind energy annually for customers in Arkansas, Louisiana, Oklahoma and Texas.

“AEP continues to add clean, renewable generation to our power plant fleet, driven by the expectations of our customers and technology advances,” Nick Akins, AEP’S chairman, president and CEO, said in a statement. “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.”

If approved by regulators, total investment by Columbus-based AEP would be nearly $2 billion, the power company said. The projects would save customers of AEP subsidiaries Public Service Co. of Oklahoma and Southwestern Electric Power $3 billion over 30 years.

All three projects are expected to be completed by the end of 2021. They are being developed by Invenergy.

The projects are subject to regulatory approval in Arkansas, Louisiana, Oklahoma and Texas and the Federal Energy Regulatory Commission.

AEP had to scrap a previous plan to develop wind energy in the region after regulators in Texas refused to approve the project.

The move to wind and solar sources of electricity along with new natural gas generation has cut AEP’S carbon dioxide emissions by 59% since 2000.