April 29, 2009 — American Electric Power (AEP) is doubling its goal of adding 1,000 MW of renewable energy to 2,000 MW by the end of 2011, with regulatory support. The goal is one of 12 new targets announced in the company’s third annual Corporate Sustainability Report released Tuesday, April 28. This will bring the company’s total renewable energy portfolio to more than 2,600 MW by the end of 2011.
AEP has added 903 MW of wind generation since 2007, when the company committed to its original goal of adding 1,000 MW.
“Continuing to diversify our fuel mix with more renewable resources will allow us to meet our customers’ energy needs and reduce our carbon footprint,” said Michael G. Morris, AEP chairman, president and chief executive officer. “We can support
development of a lower-carbon energy future through a combination of increasing renewable energy; driving the development of a new, interstate extra-high voltage transmission system to bring that renewable energy to market; promoting energy efficiency; and further developing advanced coal technologies such as carbon capture and storage.”
AEP’s Sustainability Report outlines issues that affect the company’s long-term sustainability, including climate change; environmental performance; public policy; energy security, reliability and growth; work force issues; stakeholder engagement; and leadership, management and strategy. It details AEP’s support of a federal energy policy and an economywide cap-and-trade program that will reduce greenhouse gas emissions, keep the cost of electricity reasonable for customers and foster international participation to address climate change. It also identifies the steps AEP is taking to reduce and offset its greenhouse gas emissions, including demonstrating carbon capture and storage technology, making power plants more efficient, reducing energy consumption in its facilities, incorporating more flex-fuel and hybrid vehicles into its fleet, installing 70-kilowatt solar systems at two facilities, and offsetting emissions through forestry and agricultural methane capture programs.
AEP also set a new energy efficiency goal in 2009 to reduce consumption by 2.25 million megawatt-hours by the end of 2012. This complements a goal set in 2007 to reduce energy demand by 1,000 MW by 2012.
AEP’s Corporate Sustainability Report is available online at http://www.aep.com/cr.