American Electric Power (NYSE: AEP) announced today that it has signed a long-term solar power purchase agreement with Wyandot Solar LLC, a subsidiary of juwi solar Inc. As part of the agreement, AEP will purchase all the output of a 10.08-megawatt (MW) solar facility that is scheduled to be built in the Salem Township of Ohio.
The 20 year purchase agreement will commence once the solar facility is built. Construction of the facility will begin in November and is expected to be complete by mid-summer 2010.
According to the press release, “The agreement is AEP’s first for commercial solar energy in the company’s growing renewable portfolio. AEP’s wind energy portfolio currently is 1,783 MW, including 310 MW of wind generation owned and operated by AEP in Texas and 1,473 MW of wind energy acquired through long-term power purchase agreements. On June 1, AEP issued a request for proposals seeking long-term purchases of up to 1,100 MW of additional renewable energy resources as part of the company’s goal to add 2,000 MW of new wind or other renewable energy by the end of 2011. The goal is a component of the company’s strategy to reduce its greenhouse gas emissions.”
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