AEP Transmission, a subsidiary of American Electric (AEP), has closed on a $1.6B loan guarantee at a preferred interest rate from the U.S. Department of Energy’s Loan Programs Office to upgrade nearly 5,000 miles of transmission lines in Indiana, Michigan, Ohio, Oklahoma, and West Virginia while saving customers an estimated $275M in financing costs over the life of the loan, benefits that customers will realize through lower costs in their bills. The upgrades supported by this financing will replace existing transmission lines in existing rights-of-way with new lines capable of carrying more energy.
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