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The Dawn of Utility-Scale Fuel Cell Infrastructure
American Electric Power’s $2.65B Fuel Cell Deal Signals Utility-Scale Fuel Cells Are Going Mainstream
What happened
American Electric Power $AEP said its unit will buy a substantial portion of its option for Bloom Energy’s solid oxide fuel cells in a deal worth about $2.65B, tied to plans to develop and build a fuel cell power generation facility near Cheyenne, Wyoming. AEP also signed a 20-year offtake deal with an unnamed customer to take the full output from the facility, with conditions expected to be satisfied by Q2 2026 (and AEP saying it would be financially compensated for…
The skinny
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