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PR Newswire is an important news source that can be accessed via the X-Billboard. It is part of the Newswire Hub, which bundles important international news sources for stock market participants in one central location. If you want to get a quick overview, you can easily scroll through the headlines. If you want to look at the news in more detail, you can use the detailed views of the info cards to directly access the respective news item and other analysis tools.
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State: 17.08.2024 | 11PM
Wed, 18.12.2024       American Electric Power
US0255371017

SHREVEPORT, La., Dec. 18, 2024 /PRNewswire/ -- Southwestern Electric Power Co. (SWEPCO), a subsidiary of American Electric Power (Nasdaq: AEP), is excited to announce the ongoing development of several new generation projects, pending regulatory approval. These initiatives are designed to enhance SWEPCO's diverse energy portfolio by adding natural gas facilities alongside new wind and solar farms, addressing the growing capacity demands of our customers in a cost-effective manner.

As part of the company's vision to improve customers' lives with reliable and affordable power, today's announcement includes future development of a 450-Megawatt (MW) natural gas plant to be located at a previously retired plant site in Hallsville, Texas. Natural gas is the leading fuel for electric generation nationwide, accounting for 48% of SWEPCO's existing power generation portfolio. Its turbines offer a reliable and dispatchable energy source, capable of ramping up within minutes.

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