(KSLA) - SWEPCO's parent company American Electric Power's Wind Catcher project has just lost the wind in its sails.
The company announced the cancellation on Friday, after the Public Utility Commission of Texas' decision to deny the approval project on Thursday.
The project received the approval of the Arkansas Public Service Commission, Louisiana Public Service Commission and Federal Energy Regulatory Commission. A decision was pending at the Oklahoma Corporation Commission.
Nicholas K. Akins, AEP chairman, president and chief executive officer, issued the following statement in a news release:
AEP plans to invest $24 billion this year through 2021 to rebuild and enhance aging infrastructure, add advanced technologies to the energy system and create a more reliable and resilient grid for customers, according to a news release.