AEP Plans $4 Billion 702MW Bloom Fuel Cell Project for Google in Wyoming

American Electric Power (Nasdaq: AEP) plans to invest approximately $4 billion to advance a new 702-megawatt fuel cell generation project near Cheyenne, Wyoming, under a long-term 20-year power purchase agreement with Google. The project marks a significant step in AEP's strategy to serve growing demand from large-scale customers.

Under the agreement, Google will acquire power from Cheyenne Fuel Cell, LLC, which is approximately 92% owned and controlled by AEP, with nearly 8% owned by funds advised by Basalt Infrastructure Partners, LLP.

Construction Timeline

AEP and its partners plan to start construction in 2026, and the facility is expected to be fully operational by the end of 2028. The project follows agreements reached between Google and Black Hills Corp., effective Sept. 30.

Fuel Cell Technology

The planned facility uses advanced fuel cell technology developed by Bloom Energy that can be deployed rapidly and provide reliable, on-demand power to meet the needs of large-load customers. The technology generates electricity without combustion of natural gas, and the project includes plans to integrate carbon capture technology to deliver reliable, near-zero-emissions power.

"As power demand continues to grow, AEP is bringing together new technologies and strong partnerships to deliver reliable, innovative energy solutions quickly and at scale," said Bill Fehrman, AEP chairman, president and chief executive officer. He added that the project demonstrates how the company is creating new opportunities to meet evolving energy needs for customers both within and beyond its traditional service territory.

AEP's Broader Investment Plans

AEP, headquartered in Columbus, Ohio, plans to invest $78 billion from 2026 through 2030 to enhance service for customers and support the growing energy needs of its communities. The company's nearly 18,000 employees operate and maintain the nation's largest electric transmission system with 40,000 line miles, along with more than 252,000 miles of distribution lines, to deliver energy to 5.6 million customers in 11 states. AEP is also one of the nation's largest electricity producers, with approximately 33,000 megawatts of diverse owned and contracted generating capacity.

Sources: Pr Newswire · Techmeme