American Electric Power to invest $4 billion in fuel cell project to power Google
American Electric Power plans to invest about $4 billion in a 702-megawatt fuel cell project near Cheyenne, Wyoming, to supply Google under a 20-year power purchase agreement. Construction is expected to begin in 2026, with full operations expected by the end of 2028.
1. Project plans
American Electric Power said it plans to invest about $4 billion in the project, which will be developed by Cheyenne Fuel Cell, about 92% owned by the utility. The remaining stake is held by funds advised by Basalt Infrastructure Partners.
2. Construction and technology
Construction is expected to begin in 2026, with full operations expected by the end of 2028. The facility will use Bloom Energy fuel cell technology to provide on-demand electricity for Google's growing energy needs in the Cheyenne area. AEP shares were up over 3.1% in premarket trading.
