American Electric Power subsidiary Southwestern Electric Power Company announced plans to acquire three renewable energy projects totaling 999 MW. If approved by regulators, the projects would represent a $2.2 billion investment.
SWEPCO expects to issue another request for proposal (RFP) in the near term for additional renewable energy consistent with the company’s integrated resource plan for its energy and capacity needs.
SWEPCO is seeking approval from regulators in Arkansas, Louisiana, and Texas to acquire the 200-MW Mooringsport solar project in Caddo Parish, Louisiana; the 200.6-MW Diversion wind project in Baylor County, Texas; and the 598.4-MW Wagon Wheel wind project spanning Logan, Garfield and Noble counties in Oklahoma.
The projects are being developed by Invenergy.
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Diversion is expected to reach commercial operation in December 2024, and Mooringsport and Wagon Wheel are expected to come online in December 2025.
The solar and wind projects were identified through a competitive bidding process. Following state regulatory approvals, AEP will file with the Federal Energy Regulatory Commission for approval to transfer the projects from Invenergy.
“This investment is another key step in SWEPCO’s efforts to secure renewable, affordable energy and achieve a more balanced fuel mix,” said Nicholas K. Akins, AEP chairman, president and chief executive officer. “AEP remains focused on adding approximately 16 gigawatts of regulated renewables to our generation portfolio by 2030 and reaching net-zero carbon emissions by 2050.”
SWEPCO’s long-term plan calls for more than one-third of its Southwest Power Pool accredited capacity to be satisfied with wind and solar resources.
In February, SWEPCO announced plans to add 72.5 MW of solar energy through a power purchase agreement with the proposed Rocking R Solar project in northwest Louisiana. SWEPCO and sister company Public Service Company of Oklahoma also own and operate the 1,484-MW North Central Energy Facilities in north central Oklahoma. The project includes 199-MW Sundance, 287-MW Maverick and 998-MW Traverse wind projects and is one of the largest wind facilities in the world.
