|Day's Range||68.59 - 69.51|
|52 Week Range||57.89 - 72.97|
|PE Ratio (TTM)||48.70|
|Dividend & Yield||2.36 (3.43%)|
|1y Target Est||N/A|
American Electric Power said it will spend $4.5 billion to develop the one of the largest wind farms in the U.S. and a related 350-mile transmission line.
AEP plans to spend $4.5 billion on new power – and in a sign of recent times, it’s in renewable energy, not coal. The electric utility plans to spend the money on what will be the biggest single wind farm in the United States, as the Columbus company continues its fast churn away from coal toward a more diverse mix of power generation. “This project is consistent with our strategy of investing in the energy resources of the future, and it will save our customers money while providing economic benefits to communities,” AEP CEO Nick Akins said in a statement.
There’s a new model emerging for growth-starved utilities looking to profit from America’s solar and wind power boom.