Louisiana Public Service Commission Approves Southwestern Electric Power Co. Renewable Projects To Move Forward With Its Fuel-Free Power Plan To Acquire Up To 999 Megawatts Of Renewable Generation Resources
Portfolio Pulse from Happy Mohamed
Southwestern Electric Power Co., a subsidiary of American Electric Power (NASDAQ:AEP), has received approval from the Louisiana Public Service Commission to proceed with its plan to acquire up to 999 megawatts of renewable generation resources. The plan includes the construction of one solar and two wind projects by Invenergy, which will then be acquired by SWEPCO. The move is part of SWEPCO's long-term strategy to replace a third of its capacity with wind and solar resources.
June 29, 2023 | 8:01 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
American Electric Power's subsidiary, Southwestern Electric Power Co., has received regulatory approval to acquire up to 999 MW of renewable generation resources. This move aligns with the company's long-term strategy to increase its renewable energy capacity.
The approval for Southwestern Electric Power Co. to acquire renewable generation resources is a positive development for American Electric Power. This aligns with the company's long-term strategy to increase its renewable energy capacity, which could potentially lead to cost savings and increased demand from environmentally conscious consumers. Therefore, this news is likely to have a positive impact on AEP's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100