AEP Texas Secures Up to $3.26B DOE Loan for Grid Upgrades
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Corpus Christi – October 12, 2026 -- AEP Texas, a subsidiary of American Electric Power (Nasdaq: AEP), has agreed to a loan of up to $3.26 billion from the U.S. Department of Energy's Office of Energy Dominance Financing, with projected customer savings of $685 million over 30 years.
The financing will fund a portfolio of nearly 100 projects aimed at improving grid reliability and supporting load growth in one of the fastest-growing regions in the United States.
AEP Texas plans work on about 2,800 miles of transmission lines
The utility intends to rebuild or reconductor existing transmission lines and build new ones, covering approximately 2,800 miles. The investment is projected to increase the capacity of existing transmission infrastructure and reduce power interruptions for customers.