U.S. electric utility company AEP to spend $33 bln in T&D operations

U.S.-based electric utility company American Electric Power (AEP) announced plans to spend $33 billion investment, from 2019 through 2023, in its transmission and distribution (T&D) operations to enhance service for customers.

AEP’s capital investments 75 percent will be focused on advanced infrastructure, innovative technologies and cleaner generation resources over the next five years.

In addition, the company also has $2.7 billion in the new renewable generation in its capital plan, which includes approximately $2.2 billion for competitive, contracted renewable projects.

AEP will add more than 8,300 megawatts (MW) of wind and solar generation and more than 2,600 MW of gas-fired generation to its regulated generation fleet by 2030.