AEP Announces 20-Year PPA With Google, Outside Of Traditional Service Area, Plans To Invest $4 Billion For 702 MW Project

American Electric Power plans to invest approximately $4 billion to advance a new 702-megawatt fuel cell generation project near Cheyenne, Wyoming, under a long-term 20-year power purchase agreement (PPA) with Google, "marking a significant step in AEP's strategy to serve growing demand from large-scale customers," AEP said

Under the PPA, Google will acquire power from Cheyenne Fuel Cell, LLC, which is approximately 92% owned and controlled by AEP, and nearly 8% owned by funds advised by Basalt Infrastructure Partners, LLP.

AEP and its partners plan to start construction in 2026, and the facility is expected to be fully operational by the end of 2028.

"This project demonstrates how we are creating new opportunities to meet evolving energy needs for customers both within and beyond our traditional service territory," said Bill Fehrman, AEP chairman, president and chief executive officer.

The planned facility uses "advanced fuel cell technology" developed by Bloom Energy.

The project follows agreements reached between Google and Black Hills Corp., effective Sept. 30.