AEP to Invest $4B in 702-MW Fuel Cell Plant for Google
Image
Columbus – October 14, 2026 -- American Electric Power (Nasdaq: AEP) plans to invest approximately $4 billion in a 702-megawatt fuel cell generation project near Cheyenne, Wyoming, backed by a 20-year power purchase agreement (PPA) with Google.
AEP controls 92% of the project company, Basalt funds hold nearly 8%
Google will buy power from Cheyenne Fuel Cell, LLC. AEP owns and controls about 92% of the entity, and funds advised by Basalt Infrastructure Partners, LLP hold nearly 8%. AEP and its partners plan to start construction in 2026. The facility is expected to be fully operational by the end of 2028.