AEP Completes Power Purchase Agreement for 200 MW of Wind

Two American Electric Power subsidiaries have signed long-term power purchase agreements with Fowler Ridge Wind Farm LLC, an indirect subsidiary of BP Alternative Energy North America Inc., for a total of 200 megawatts (MW) of renewable wind energy.

AEP’s Appalachian Power and Indiana Michigan Power utility units each signed a 20-year agreement to purchase 100 MW of wind energy from the Fowler Ridge Wind Farm that is being developed in Benton County and part of Tippecanoe County, Indiana. The Fowler Ridge Wind Farm is expected to be online by the end of 2008. Pricing terms of both agreements are confidential.

The agreements are subject to approvals from the Indiana Utility Regulatory Commission, the Michigan Public Service Commission and the Public Service Commission of West Virginia.

“Although we’ve long had significant wind resources in our western generation portfolio, these two contracts represent the first commercial use of wind energy to serve the electricity demands of customers in our eastern seven-state footprint. Using wind energy to help satisfy our need for additional generation improves the fuel diversity of our eastern fleet and supports progressive state initiatives to expand renewable energy resources,” said Michael G. Morris, Chairman, President and Chief Executive Officer of American Electric Power.

AEP currently owns two wind farms in Texas with a total capacity of 310 MW and has long-term contracts to purchase 467 MW of output from wind farms in Oklahoma and Texas owned by third parties.

The power purchase agreements with Fowler Ridge Wind Farm are part of AEP’s plans to add 1,000 MW of new wind energy by 2011.
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