In its second major attempt at investing in renewable energy, American Electric Power Co. Inc. (AEP), one of America’s largest utility companies, has announced a roughly $2 billion proposal to acquire three wind farms in Oklahoma, according to Energy News Network.
Energy News Network reports that less than two years ago, AEP proposed a $4.5 billion ‘Wind Catcher Plan’ to acquire wind farms in the same region, but the plan failed. This time, the plan will entail a smaller electrical capacity, will lack a large transmission element, and will bring some wiggle room to the table.
“They’re taking a different approach,” said Andy Bischof, a senior equity analyst with Morningstar Research Services LLC, “I think they’ve definitely learned their lesson.”
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