AEP CEO says $4.5B wind farm investment is less risky than building coal plants

Columbus electric utility American Electric Power Company Inc. (AEP) plans to spend $4.5 billion on “the largest single-site wind farm in America,” Columbus Business First reports. While “[t]he project holds risk,” AEP CEO Nick Akins said, “the risks associated with spending $4.5 billion on the 800-turbine Oklahoma project are still less than those associated with building traditional power plants.” According to Akins, “if you built a central-station generation like a coal unit . . . it would be as big or bigger, but much more risky,” the article reports. A new American Wind Energy Association report shows that “[d]evelopment and construction of wind projects rose 40 percent in second-quarter 2017 compared to a year ago.” For more, read the full article.  

Renewable Energy