COLUMBUS, Ohio, Aug. 2, 2022—Buckeye Power Inc., completed its purchase of Cardinal Plant Unit 1 from American Electric Power (AEP) Generation Resources according to the terms of an agreement reached in March 2022. The sale has received all required regulatory approvals.
“This transaction likely marks the final chapter of a long and successful partnership with AEP at the Cardinal Plant that has lasted more than 50 years. The transaction paves the way for Buckeye’s plan to shut down Cardinal Unit 3 by the end of 2028,” said Pat O’Loughlin, President and CEO, Buckeye Power, Ohio’s Electric Cooperatives.
The Cardinal Plant is a critical component to Buckeye’s diverse power supply resource portfolio that also includes natural gas, solar, hydropower, and biogas generation projects. Buckeye will continue to operate the plant as it has since 2018.
About Buckeye Power
Buckeye Power is a member-owned generation and transmission (G&T) cooperative supplying electric power and energy to its 25 electric distribution cooperative members for the benefit of their 1-million member-consumers at 400,000 homes and businesses in Ohio. The Buckeye member cooperatives’ certified service territory covers nearly 40% of the land area in the state and includes portions of 77 of Ohio’s 88 counties. Buckeye owns and operates a diverse set of power generation resources, including coal and natural gas power plants, as well as several renewable energy projects, including agricultural bio-digesters, landfill gas plants, 24 solar PV sites, and the New York Power Authority (NYPA) hydropower projects. Buckeye has developed and operates an extensive demand-side management program.