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SHREVEPORT, La. (May 31, 2022) – Southwestern Electric Power Co., an American Electric Power company (Nasdaq: AEP), today announced plans to add 999 megawatts (MW) of wind and solar energy by the end of 2025.
SWEPCO seeks approval of the proposal from utility regulators in Arkansas, Louisiana, and Texas in filings submitted Friday, May 27.
One solar and two wind projects to be constructed by Invenergy and acquired by SWEPCO were identified through a competitive bidding process. They
- Mooringsport, a 200 MW solar facility located in Caddo Parish, Louisiana.
- Diversion, a 200.6 MW wind facility in Baylor County, Texas
- Wagon Wheel, a 598.4 MW wind facility located in Garfield, Kingfisher, Logan, Payne, and Noble counties in Oklahoma
“SWEPCO’s analysis of our generation needs showed that the lowest cost, best value option for capacity was adding wind and solar resources,” said Malcolm Smoak, SWEPCO president and Chief Operating Officer. “These projects will help save money for our customers.”
SWEPCO’s need for capacity is driven by the retirement of aging SWEPCO generation units including the retirement of five gas units in 2019 and 2020, the retirement of Dolet Hills in 2021, and the announced 2023 retirement of the Pirkey Power Plant in Hallsville, Texas. With these retirements, SWEPCO is facing a capacity deficit beginning in 2023 that grows to 1,574 MW in 2028 after the retirement of other generating units. SWEPCO intends to evaluate and/or conduct additional requests for proposals to explore more opportunities to add least-cost renewable generation and capacity in the coming years.
“We have worked to balance the remaining life and economic viability of each of our generating units with other options for generating power, including natural gas as well as renewables, in a resource mix that provides the best value and generates benefits for the environment,” Smoak said.
SWEPCO’s long-term strategy calls for more than one-third of its SPP-accredited capacity to be satisfied with wind and solar resources.
SWEPCO also filed for approval of short-term capacity-only agreements from natural gas facilities operated by Oneta and JPower for additional capacity for 2023 through 2026.
SWEPCO announced in early February plans to add 72.5 MW of solar energy through a purchased power agreement with the proposed Rocking R Solar project in Northwest Louisiana. In March, the 998-MW Traverse Wind Energy Center began operations. Traverse is the final and largest wind project of the North Central Energy Facilities in Oklahoma that generates 1,484 MW of clean energy.
About Southwestern Electric Power Co. (SWEPCO)
SWEPCO, an American Electric Power (Nasdaq: AEP) company, serves more than 543,000 customers in Northwest and Central Louisiana, Northeast Texas and the Texas Panhandle, and Western Arkansas. SWEPCO’s headquarters are in Shreveport, La. News releases and other information about SWEPCO can be found at SWEPCO.com. Connect with us at Facebook.com/SWEPCO, Twitter.com/SWEPCOnews, Instagram.com/swepco, Youtube.com/SWEPCOtv and LinkedIn.com/company/swepco.
About American Electric Power (AEP)
American Electric Power, based in Columbus, Ohio, is powering a cleaner, brighter energy future for its customers and communities. AEP’s approximately 16,700 employees operate and maintain the nation’s largest electricity transmission system and more than 224,000 miles of distribution lines to safely deliver reliable and affordable power to 5.5 million regulated customers in 11 states. AEP also is one of the nation’s largest electricity producers with approximately 31,000 megawatts of diverse generating capacity, including more than 5,900 megawatts of renewable energy. The company’s plans include growing its renewable generation portfolio to approximately 50% of total capacity by 2030. AEP is on track to achieve an 80% reduction in carbon dioxide emissions from 2000 levels by 2030 and has committed to achieve net zero by 2050. AEP is recognized consistently for its focus on sustainability, community engagement, and diversity, equity and inclusion. AEP’s family of companies includes utilities AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana, east Texas and the Texas Panhandle). AEP also owns AEP Energy, which provides innovative competitive energy solutions nationwide. For more information, visit aep.com.