American Electric Power signs $2.65 billion deal for fuel cells
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American Electric Power (AEP) has signed a $2.65 billion deal to purchase solid oxide fuel cells, part of its plan to develop a fuel cell power generation facility. AEP exercised an option for 900 megawatts of additional capacity from Bloom Energy, following a previous agreement for 100 megawatts. Additionally, AEP secured a 20-year offtake agreement with an unnamed customer for the facility's output, expected to be operational by the second quarter of 2026, with financial compensation guaranteed if conditions are not met.
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