AEP and Quanta Services Announce Strategic Partnership to Advance Transmission and Power Infrastructure

• Cooperation and Commitment Agreement to bolster 765 kV infrastructure development supporting unprecedented load growth
• Development Services Agreement secures supply of critical equipment and materials needed for transmission grid enhancements

COLUMBUS, Ohio, Nov. 5, 2025 /PRNewswire/ -- American Electric Power (Nasdaq: AEP) today announced long-term strategic agreements with Quanta Services, Inc. (NYSE: PWR) designed to position AEP to execute on its announced $72 billion capital plan including delivery of high-voltage transmission, while enhancing supply chain resilience and expanding development capabilities to serve customers, including the rapidly growing data center market.

The collaboration includes a Cooperation and Commitment Agreement for transmission projects, and a Development Services Agreement for large transformer and breaker manufacturing. Together, these efforts position AEP and Quanta to deliver greater efficiency, constructability and certainty in meeting the energy needs of customers today and in the future.

Under the Cooperation and Commitment Agreement, AEP and Quanta will collaborate on the design, engineering, procurement and construction of 765 kV and other high-voltage transmission facilities. The partnership agreement combines AEP's deep operational and development expertise, gained by being the first and the largest 765 kV operator in the United States, with Quanta's proven track record of large-scale project execution as the most experienced 765 kV constructor in the United States, improving cost predictability, enhancing delivery certainty and providing a proven operational structure. AEP and Quanta will leverage the strength of this partnership to bring the benefits of 765 kV transmission to AEP's traditional operating footprint as well as surrounding markets.

In addition, AEP and Quanta have executed a Development Services Agreement to expand domestic manufacturing capacity for extra-high-voltage transformers and circuit breakers. This initiative represents a significant investment in power equipment manufacturing in the United States and will strengthen the domestic supply chain and ensure reliable access to critical grid components.

"These agreements represent a new level of collaboration between AEP and Quanta that positions the companies to deliver solutions to customers to meet their electric needs with greater speed, greater schedule certainty and at improved costs," said Bill Fehrman, AEP chairman, president and chief executive officer. "By aligning with Quanta early on supply chain, constructability and operations we are creating a new model that strengthens execution, reduces risk and provides certainty around the development of projects for our customers and stakeholders."

"This is a partnership built on execution and innovation," said Duke Austin, president and chief executive officer of Quanta Services. "Together, AEP and Quanta bring unmatched expertise in power delivery and large-scale infrastructure development, ensuring we can provide solutions to meet the growing demand for reliable, efficient and resilient power. By combining our strong track record of safe, skilled workforce execution with AEP's commitment to system reliability, we're delivering the labor certainty and capacity needed to serve existing electric customers and power the rapidly expanding digital economy."

The long-term collaboration will support AEP's regulated and competitive transmission companies, including Transource Energy, LLC, while positioning both AEP and Quanta to deliver integrated solutions for the evolving grid and hyperscale market.

ABOUT AEP

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.

ABOUT QUANTA SERVICES

Quanta Services is an industry leader in providing specialized infrastructure solutions to the utility, renewable energy, technology, communications, pipeline and energy industries. Quanta's comprehensive services include designing, installing, repairing and maintaining energy and communications infrastructure. With operations throughout the United States, Canada, Australia and select other international markets, Quanta has the manpower, resources and expertise to safely complete projects that are local, regional, national or international in scope. For more information, visit www.quantaservices.com.

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SOURCE American Electric Power