AEP climbs on Google power pact, $4 billion investment
AEP•American Electric Power plans to invest about $4 billion in a 702-megawatt Wyoming fuel-cell project that will supply Google under a 20-year power purchase agreement.
1. Wyoming power project
AEP said it plans to invest about $4 billion to advance the project, which will supply electricity to Google under a 20-year power purchase agreement. Google will purchase power from Cheyenne Fuel Cell, about 92% owned by AEP, with funds advised by Basalt Infrastructure Partners holding the remaining stake.
2. Construction timeline
Construction is expected to begin in 2026, and the facility is slated to be fully operational by the end of 2028. The project will use fuel-cell technology developed by Bloom Energy and is intended to support Google's growing energy needs in the Cheyenne area.
