BUZZ - AEP shares surge due to power partnership with Google and $4 billion investment

October 14 - ** Shares of American Electric Power Company AEP.O rose more than 1% in pre-market trading, quoted at $127

** The company stated that it plans (link) to invest around $4 billion to advance a 702-megawatt next-generation fuel cell power project in Wyoming, supplying power to Google under Alphabet GOOGL.O pursuant to a 20-year power purchase agreement

** AEP said that, under the agreement, Google will buy electricity from the Cheyenne Fuel Cell company, in which AEP holds about 92% of the equity, with the remaining shares held by funds managed by Basalt Infrastructure Partners

** AEP added that the project is expected to commence construction in 2026, with the facility scheduled to be fully operational by the end of 2028

** It is reported that the project will use fuel cell technology developed by Bloom Energy (BE.N), aiming to meet Google's growing energy demand in the Cheyenne region

** As of the previous trading day's close, AEP had risen 9% year to date

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