Southwestern Electric Power Co. (SWEPCO) has reached a settlement agreement with the Arkansas Public Service Commission (APSC) General Staff, the Office of Arkansas Attorney General Leslie Rutledge, and Walmart Inc. regarding SWEPCO’s proposal to add 810 MW of wind energy.
SWEPCO has proposed to acquire three wind facilities in north-central Oklahoma – known as the North Central Energy Facilities – in conjunction with its sister company, Public Service of Oklahoma (PSO). SWEPCO will own 54.5% of the 1,485 MW project with an investment of $1.01 billion.
The unanimous settlement agreement seeks final APSC approval for SWEPCO’s proposed purchase of three wind generation facilities in Oklahoma.
“We’re pleased that the parties in this proceeding have carefully reviewed the proposal and reached an agreement that will provide more clean, low-cost energy to Arkansas customers,” says Malcolm Smoak, president and CEO of SWEPCO.
“This project supports our long-term strategy of renewable energy providing more than one-third of the resource mix serving our customers. In addition to the environmental benefits of wind energy, SWEPCO customers will save an estimated $2 billion over the 30-year expected life of the new facilities,” adds Smoak.
SWEPCO serves more than 536,300 customers in three states, including 119,800 in Arkansas.