February 25, 2021
AEP Energy to Provide 100% Clean Energy to Abercrombie & Fitch Co.
COLUMBUS, Ohio, Feb. 25, 2021 – AEP Energy, a subsidiary of American Electric Power (Nasdaq: AEP), has signed an agreement with Abercrombie & Fitch Co. to provide clean energy through an Integrated Renewable Energy (IRE) solution.
AEP Energy will supply the retailer’s corporate headquarters and two distribution centers in New Albany, Ohio with clean energy through IRE – a long-term, fixed price retail energy option that supports new, locally-sourced wind and solar – for 13 years beginning in 2023.
“We’re proud to partner with Abercrombie & Fitch Co. as they work to reduce their carbon footprint. An integrated renewable energy solution will help them achieve their sustainability goals with energy from regional assets. AEP Energy is honored to support A&F Co.’s ongoing efforts as part of the retailer’s commitment to invest in renewable energy and reduce emissions,” said AEP Energy President Greg Hall.
“The shift to renewable electricity in our New Albany corporate operations will contribute to our recently stated goal of reducing Total Scope 1 and 2 greenhouse gas (GHG) emissions by 2030,” said Kim Harr, Abercrombie & Fitch Co.’s senior director of Sustainability. “This also supports our continued commitment to the environmental principles of the UN Global Compact. Our mission goals align with limiting the global temperature rise to 1.5°C and support the United Nations Sustainable Development Goals #7 Affordable and Clean Energy and # 13 Climate Action. We thank Worthington Energy Consultants and AEP Energy for their collaboration on this innovative energy solution.”
About AEP Energy
AEP Energy, a subsidiary of American Electric Power (Nasdaq: AEP), is a certified competitive retail electricity and natural gas supply provider operating in 28 service territories in six states and Washington, D.C. AEP Energy supplies electricity and natural gas solutions for more than 500,000 residential and business customers and takes pride in making it easy for customers to buy, manage and use energy. Based in Columbus, Ohio, and Chicago, AEP Energy is committed to excellence by delivering value, innovative energy solutions and excellent customer service. For more information, visit www.aepenergy.com.
About Abercrombie & Fitch Co.
Abercrombie & Fitch Co. (NYSE: ANF) is a leading, global specialty retailer of apparel and accessories for Men, Women and Kids through three renowned brands. For more than 125 years, the iconic Abercrombie & Fitch brand has outfitted innovators, explorers and entrepreneurs. Today, the brand reflects the updated attitude of the modern consumer, while remaining true to its heritage of creating expertly crafted products with an effortless, American style. The Hollister brand epitomizes the liberating and carefree spirit of the endless California summer for the teen market. abercrombie kids creates smart, playful apparel for children ages 5-14, celebrating the wide-eyed wonder of childhood.
The brands share a commitment to offering products of enduring quality and exceptional comfort that allow consumers around the world to express their own individuality and style. The Company operates approximately 730 stores under these brands across North America, Europe, Asia and the Middle East, as well as the e-commerce sites www.abercrombie.com and www.hollisterco.com.
Other News Releases
February 27, 2024
AEP Completes Sale of New Mexico Solar Assets
American Electric Power has completed the sale of its 50% interest in New Mexico Renewable Development, LLC (NMRD) to Exus North America Holdings, LLC (Exus). AEP nets approximately $104 million in cash after tax, transaction fees and other customary adjustments.
February 26, 2024
AEP Reports 2023 Earnings Results
- Year-end 2023 GAAP earnings of $4.26 per share; operating earnings of $5.25 per share
- 2024 operating earnings (non-GAAP) guidance range reaffirmed at $5.53 to $5.73 per share with long-term growth rate of 6% to 7% and FFO/Debt target of 14% to 15%
- Company advances strategic initiatives including de-risking the business, controlling costs and investing in a modern and reliable grid to benefit customers