AEP Secures $1.6 Billion DOE Loan Guarantee to Upgrade 5,000 Miles of Transmission Lines
American Electric Power Company Inc. $(AEP)$, through its subsidiary AEP Transmission, has secured a $1.6 billion loan guarantee from the U.S. Department of Energy's Loan Programs Office. The agreement provides AEP with a preferred interest rate to upgrade nearly 5,000 miles of transmission lines across Indiana, Michigan, Ohio, Oklahoma, and West Virginia. The financing is expected to save customers an estimated $275 million in financing costs over the life of the loan, with benefits reflected in lower bills. The upgrades will enhance reliability, support economic growth, and enable AEP to meet growing energy demand, especially for new data centers, artificial intelligence, and manufacturing developments. The first projects under this agreement will upgrade approximately 100 miles of transmission lines in Ohio and Oklahoma, with further projects to follow.
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