What Does American Electric Power Company (AEP) Gain From Its 960 MW Nuclear Plan?

American Electric Power Company (NasdaqGS:AEP) agreed a joint development deal with X-energy and Amazon for a 960-megawatt advanced nuclear project in Indiana. The proposed facility would repurpose a former coal plant site and use X-energy small modular reactor technology to supply carbon-free power. Amazon plans to support the project through funding and a long-term power purchase arrangement, anchoring demand for the prospective output. This advanced nuclear plan with Amazon and X-energy is only one piece of the picture for American Electric Power investors. We have also spotted 2 warning signs (1 major) worth knowing about at American Electric Power Company.