American Electric Power (AEP) is planning to invest $37 billion in its regulated businesses and renewables between 2021 and 2025.
The capital plan includes $26.7 billion in transmission and distribution operations investments, $2.8 billion in regulated renewable generation, and $2.1 billion in competitive, contracted renewable projects.
The company will invest 14% of its capital through 2025 in renewable energy.
Renewables will represent approximately 40% of the company's fuel mix by 2030, reports Daily Energy Insider.
AEP has received approval for the North Central wind facilities, which will bring 1,485 megawatts of clean energy to Southwestern Electric Power Company and Public Service Company of Oklahoma customers in Arkansas, Louisiana, and Oklahoma.
