AEP to build a $4 billion 702 MW fuel‑cell plant in Wyoming for Google
American Electric Power announced a $4 billion investment to construct a 702‑megawatt solid‑oxide fuel‑cell facility near Cheyenne, Wyoming. The plant will be owned about 92 % by AEP and the remainder by investors linked to Basalt Infrastructure Partners. Power will be sold to Google under a 20‑year power purchase agreement, with construction beginning in 2026 and the plant expected to start delivering electricity by the end of 2028.
Why it matters
AEP shares rose 0.76 % to $125.985 after the announcement, indicating market approval of the long‑term contract with a major data‑center customer. The project adds roughly $4 billion of capital spending to AEP’s $78 billion investment plan through 2030, expanding its generation capacity for high‑load customers.
Key facts
- 1AEP will invest approximately $4 billion in the Wyoming fuel‑cell project. stocktitan.net
- 2The facility will have a capacity of 702 megawatts. stocktitan.net
- 3Construction is slated to start in 2026. stocktitan.net
- 4The plant is expected to be fully operational by the end of 2028. prnewswire.com
- 5Google will purchase the electricity under a 20‑year power purchase agreement. stocktitan.net
- 6AEP owns about 92 % of Cheyenne Fuel Cell, LLC; the remaining stake is held by funds advised by Basalt Infrastructure Partners. financial-news.co.uk
Summary written by AlphAI AI Desk from 5 of 5 sources. Not investment advice. Figures are as stated by the linked sources.