Overview

• DOE’s Loan Programs Office finalized a guarantee for AEP Transmission to reconductor and rebuild roughly 5,000 miles of lines across Indiana, Michigan, Ohio, Oklahoma, and West Virginia.
• AEP projects about $275 million in lifetime financing savings for customers and roughly 1,100 construction jobs from the upgrades.
• The first projects cover approximately 100 miles in Ohio and Oklahoma, with additional work to follow across the service area.
• DOE said the loan was evaluated under new LPO guidance as the office has experienced staff reductions and cancellations of other commitments this year.
• AEP cites 24 GW of committed new electricity demand by decade’s end, with replacements in existing rights-of-way to increase capacity for data centers, AI, and manufacturing.