US utility Southwestern Electric Power Company (SWEPCO) has sought approval from Louisiana’s regulators to acquire a solar project in that state.
Located in Caddo Parish, the 200MW solar PV is being developed by Invenergy and is expected to be operational by the end of 2025.
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Alongside the solar park in Louisiana, the American Electric Power (AEP) subsidiary has also sought approval to acquire two wind projects from Invenergy in Arkansas and Texas with a total capacity of 799MW.
Total investment for the three renewable projects represent US$2.2 billion, with the utility expecting to issue another request for proposal (RFP) in the near future.
Nicholas K. Akins, CEO and chairman at AEP, said: “This investment is another key step in SWEPCO’s efforts to secure renewable, affordable energy and achieve a more balanced fuel mix.”
This would not be the first solar transaction SWEPCO has made in Louisiana this year, as last February it signed a PPA with solar developer and operator D. E. Shaw Renewable Investments (DESRI) for a total capacity of 72.5MW, which is expected to come online in late 2024.
Moreover, AEP has been aiming to add north of 16GW of renewable energy to its portfolio by 2030, which would represent 50% of total capacity of the company.