AEP Ohio, a unit of American Electric Power (NYSE: AEP), signed a participation agreement with Turning Point Solar LLC, a joint venture between Agile Energy Inc. and New Harvest Ventures, to develop the 49.9 MW Turning Point solar energy project in Ohio.
Isofoton, a Spanish-based solar energy technology company, will supply the 250,000 photovoltaic modules for the development. The company agreed to base its North American manufacturing facility in Ohio.
AEP Ohio will invest $20 million into the development of the project and will operate and maintain the project when completed.
Construction is expected to begin in the summer of 2012 and be completed by 2015.