American Electric Power to Invest About $4 Billion in Fuel Cell Generation Project Under Google Deal

08:54 AM EDT, 10/14/2026 (MT Newswires) -- American Electric Power (AEP) said Wednesday that it will invest approximately $4 billion in a 702-megawatt fuel cell generation project near Cheyenne, Wyoming, as part of a 20-year power purchase agreement with Alphabet's Google (GOOG, GOOGL). Under the agreement, the company said Google will acquire power from Cheyenne Fuel Cell, which is 92% owned and controlled by American Electric Power, with funds advised by Basalt Infrastructure Partners holding nearly 8%. The company said Basalt Infrastructure Partners plans to break ground before the end of the year on the new facility, which is slated to be fully operational by the end of 2028. The project will use fuel cell technology developed by Bloom Energy to provide on-demand electricity without burning natural gas, the company said.