American Electric Power to buy power solar power via PPA in Ohio
American Electric Power Co Inc signed a long-term power purchase agreement to buy all of the output of a 10.08-megawatt solar energy facility to be built in Ohio, the company said in a release Monday.
Through the 20-year agreement signed with Wyandot Solar LLC, a subsidiary of Germany’s juwi solar Inc, AEP said in the release its Ohio subsidiary will purchase all output and renewable energy credits from the Wyandot Solar facility to be built in Salem Township in Wyandot County near an AEP substation.
Construction of the photovoltaic facility on about 80 acres of land is expected to begin in November, with commercial operation seen by mid-summer 2010, a spokesman for AEP said.
The facility will use PV modules from First Solar Inc manufactured in Perrysburg, Ohio. AEP did not disclose terms of the agreement.
Based on an industry estimate of about $6,000 per kilowatt, a solar photovoltaic system would cost about $60 million.
AEP, of Columbus, Ohio, owns and operates more than 38,000 MW of generating capacity, markets energy commodities, and transmits and distributes electricity to more than 5 million customers in 11 states.
Source: Reuters
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Tags: First Solar, Power Purchase Agreement, PPA, Solar, Wyandot Solar
