• Closed on a USD 2.82bn with KKR and PSP Investments equity interest in transmission
• AEP named four active RFPs across its utility subsidiaries, eyeing in-service dates as early as 2027 and as late as 2029

American Electric Power Company (AEP) doubled its data center demand projections for 2030 during its fourth quarter earnings call, bringing up the predicted demand from 28 GW to 56 GW.

CEO Bill Fehrman and CFO Trevor Mihalik told investors during the 4Q25 earnings presentation that a jump in 23 GW of signed letters of agreement with large load customers in Texas alone contributed to the company doubling its figures since its last report in October. The company said that the number is based on existing and future agreements for data centers.

Mihalik said that AEP has more than 180 GW in its queue, “at different stages of development.” The company confirmed that the 180 GW is spread across its footprint: 70 GW in ERCOT, 25 GW in AEP Ohio, 30 GW in Public Service Company of Oklahoma, 30 GW in Appalachian Power, and 16 GW in Indiana and Michigan Power.

AEP leadership said that regional transmission operators are ultimately responsible for managing the generation that supports the data center pipeline reported by utilities but added that they are supportive of measures taken to mitigate shortfalls during high demand, like PJM’s reliability backstop auction.

The company currently has a USD 75bn five-year capital plan and reported the successful completion of a USD 2.3bn equity forward, closed on a USD 2.82bn with KKR and PSP Investments for a 19.9% equity interest in AEP Ohio and Indiana Michigan transmission companies.

Additionally, the power company reported securing over 10 GW of gas-fired turbines and signed agreements with Quanta to support its transmission buildout.

The company named four active requests for proposals (RFPs) across its utility subsidiaries, including an all-source RFP issued in May 2025 seeking 800 MW of renewable resources and 4,000 MW of accredited capacity in SPP. The company is expected to make regulatory filings on its 800 MW RFP under APCo in the first part of 2026.

All of the RFPs, totaling 10.3 GW of capacity, are eyeing in-service dates as early as 2027 and as late as 2029 for selected resources.

*This story was originally published exclusively for NPM Europe subscribers.