COLUMBUS, Ohio (AP) — American Electric Power and the Sierra Club have agreed on a plan that would lead to the largest investments in wind and solar power in Ohio history.
The Columbus Dispatch (http://bit.ly/1IRuVIe) reports the Sierra Club is dropping opposition to an eight-year profit guarantee for selected coal-fired power plants in exchange for several provisions.
Under the pact, AEP is agreeing to develop 500 megawatts of wind energy and 400 megawatts of solar energy. AEP also is agreeing to close two of its coal-fired plants or convert them to run on natural gas by 2029 or 2030.
The proposal also has the support of the Public Utilities Commission of Ohio staff and consumer groups.
The deal still has to be approved by the PUCO governing board.
Information from: The Columbus Dispatch, http://www.dispatch.com