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American Electric Power secured 3 GW of gas turbine capacity in the second quarter, bringing its total turbine supply that can be deployed by 2031 to about 13 GW, Bill Fehrman, AEP chairman, president and CEO, said Thursday during a quarterly earnings conference call.
AEP has also secured options for an additional 10 GW of turbines by 2035, according to Fehrman.
The turbine deals are with GE Vernova and Mitsubishi, he said.
The timing for the 10 GW of turbines dovetails with AEP’s aging power plants, “setting us up really well to continue to replace, potentially, some of the coal plants and some of the retiring gas plants in our vertically integrated utilities,” Trevor Mihalik, AEP CFO, said.
