AEP unveils $38B capital plan focused on grid investments, renewables | AEP Message Board Posts


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Msg  75 of 92  at  11/11/2021 4:58:47 AM  by

jerrykrause


AEP unveils $38B capital plan focused on grid investments, renewables

 from SNL Energy Finance Daily
 

AEP unveils $38B capital plan focused on grid investments, renewables

 
Byline: Darren Sweeney
 
 

American Electric Power Co. Inc. will spend the bulk of its new five-year capital plan on transmission and distribution improvements with another good chunk funneled to renewable generation.

AEP on Nov. 5 announced a $38 billion capital plan for 2022 through 2026 with $23.3 billion allocated to the electrical grid and AEP Transmission Co. LLC. AEP also plans to invest $8.2 billion in regulated renewable generation with $1.7 billion earmarked for contracted renewable projects.

The remaining funds will largely be spent on workplace services as well as hydroelectric, fossil and nuclear generation. About $1 billion in capital is planned for new regulated and "environmental" generation.

"Our extensive pipeline of needed grid investments and regulated renewable opportunities will allow us to strategically shift capital as necessary to deliver on our 5% to 7% [earnings] growth rate," AEP Chairman, President and CEO Nicholas Akins said in a news release.

The investor-owned utility plans to add more than 16,500 MW of renewable capacity from 2021 to 2030 with about 10,000 MW proposed through 2025.

In addition, AEP announced 2022 operating earnings guidance of $4.85 per share to $5.05 per share.

 


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