in News Departments > New & Noteworthy
print the content item

American Electric Power recently announced it will form a joint venture company to fund and own new electric transmission assets in Texas. The joint venture company would include AEP and one outside company. Discussions are ongoing with potential partners. AEP anticipates the transmission joint venture will be active in 2007.

"Texas faces a significant - and growing - need for transmission investment to address existing areas of congestion and to support the competitive generation market in the state," says Michael G. Morris, AEP's chairman, president and chief executive officer. "Gov. Rick Perry recognized that last week when he said the state will ensure that sufficient transmission capacity is added to support development of new wind farms."

Creating a joint venture company to pursue Texas transmission opportunities allows the participants to share the capital investment necessary to complete these infrastructure projects. The joint venture could invest up to $1 billion in new transmission projects in Texas and would own the assets. The company would be created as a utility and would be subject to the rules and regulations governing utilities within the Electric Reliability Council of Texas (ERCOT). AEP would be responsible for developing, building and operating the assets for the joint venture company.



Trachte Inc._id1770
Latest Top Stories

Eagle Take Permits For Wind Farms - Will They Fly?

Now that the U.S. Fish and Wildlife Service has issued the first permit allowing the legal take of eagles, can wind developers expect more certainty in the agency's application process?


Despite 2013 Challenges, U.S. Wind Power Reaches All-Time Low Price

In a new report, the U.S. Department of Energy details the highs and lows of the country's wind industry last year, and the agency maintains that the U.S. sector remains strong.


Mexico On Pace To Set New Renewables Investment Record

A new report says the country has spent $1.3 billion on clean energy in the first half of 2014 and could end up seeing a record year. Furthermore, wind power is slated for significant growth in the region.


IRS Issues More PTC Guidance, Easing Some Wind Industry Concerns

The Internal Revenue Service (IRS) addresses how much work is needed on a wind farm to satisfy production tax credit (PTC) eligibility.


Embryonic No More: U.S. Offshore Wind Industry Gaining Momentum

After a decade of fits and starts, the industry is moving closer to installing the first generation of wind projects off the country's shores.

Renewable NRG_id1934
Canwea_id1984
Tower Conference_id1965