Indiana Michigan Power (I&M) has taken full ownership of the Oregon Clean Energy Center located just outside of Toledo, Ohio, a major step towards ensuring I&M can continue to deliver reliable and affordable energy for its customers today and in the future.

I&M's acquisition follows the Indiana Utility Regulatory Commission's (IURC) approval in November 2025 of an agreement between I&M, the Office of Utility Consumer Counselor (OUCC), and consumer groups supporting I&M's purchase of the facility. I&M has been working with the prior owners of the Oregon facility to transfer ownership and put plans in place for the safe and efficient operations of the facility. 

The Oregon Clean Energy Center can produce 870 megawatts (MW) of natural gas-fueled electric generation and is one component of I&M's Future Ready plan, which outlines a comprehensive strategy to serve customers in a cost-effective, reliable manner as the demand for energy increases.

"The Oregon Clean Energy Center adds another source of dependable power for our customers," said Steve Baker, I&M president and chief operating officer. "The demand for electricity is increasing and we're investing accordingly so we can meet that demand, positively influence rates and maintain reliability for everyone in our communities."

I&M is navigating an unprecedented time in its history. As the company looks ahead, power demand is expected to more than double the Indiana peak from approximately 2,800 MW in 2024 to approximately 7,000 MW in the 2030 timeframe. The rapid growth in energy demand provides an opportunity for I&M to reshape the way it serves current customers and those the company will serve decades into the future.

I&M's generation portfolio incorporates a diverse mix of resources, including solar, wind, nuclear, coal and hydroelectric units. With the acquisition of the Oregon facility I&M's generation portfolio now also includes natural gas.

The company's vision for the future is to implement a comprehensive approach to providing a reliable, resilient and stable electric power system that customers can access affordably.

Indiana Michigan Power (I&M) is headquartered in Fort Wayne, and its approximately 2,000 employees serve more than 600,000 customers. More than 85% of its energy delivered in 2024 was emission-free.  I&M has at its availability various sources of generation including 2,278 MW of nuclear generation in Michigan, 450 MW of purchased wind generation from Indiana, more than 22 MW of hydro generation in both states and approximately 35 MW of large-scale solar generation in both states. The company's generation portfolio also includes 1,497 MW of coal-fueled generation.

American Electric Power (Nasdaq: AEP) is committed to improving our customers' lives with reliable, affordable power. We expect to invest $72 billion from 2026 through 2030 to enhance service for customers and support the growing energy needs of our communities. Our nearly 17,000 employees operate and maintain the nation's largest electric transmission system with 40,000 line miles, along with more than 252,000 miles of distribution lines to deliver energy to 5.6 million customers in 11 states. AEP also is one of the nation's largest electricity producers with approximately 30,000 megawatts of diverse owned and contracted generating capacity. We are focused on safety and operational excellence, creating value for our stakeholders and bringing opportunity to our service territory through economic development and community engagement. Our family of companies includes AEP Ohio, AEP Texas, Appalachian Power (in Virginia, West Virginia and Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana, east Texas and the Texas Panhandle). AEP also owns AEP Energy, which provides innovative competitive energy solutions nationwide. AEP is headquartered in Columbus, Ohio. For more information, visit aep.com.