AEP (AEP) and Amazon (AMZN) Stock News: Study Launched for a 960-Megawatt Nuclear Plant at a Retired Indiana Coal Site

American Electric Power, Amazon and reactor developer X-energy announced on October 19 a joint development agreement to study a 960-megawatt advanced nuclear project in Sullivan County, Indiana, according to Amazon’s announcement and utility trade coverage.

The proposal#

The site is the retired Breed Generating Station, a former coal plant owned by AEP’s Indiana Michigan Power unit. The study covers twelve X-energy Xe-100 reactors of 80 megawatts each, arranged in three four-reactor groups of 320 megawatts. Amazon would fund development and buy the electricity under a long-term contract designed to cover the facility’s costs, a structure AEP says protects its existing ratepayers from the project’s financial risk. Amazon has said the plant could support more than 1,000 construction jobs and more than 100 permanent jobs.

What is not decided#

This is a feasibility agreement. Construction depends on a final investment decision, and the parties disclosed no cost estimate, construction start or in-service date. It is the second project under Amazon’s collaboration with X-energy, which targets more than 5 gigawatts of new U.S. nuclear capacity by 2039.

What to compare next#

For readers following AEP, the structure matters more than the megawatts: if Amazon bears the cost, the utility gains load and a repurposed site without rate-base risk, but also without rate-base earnings. For AMZN, it is one of several long-dated power agreements supporting data-center growth, and the capital commitment is not quantified.

Published October 21, 2026. Informational reporting, not investment advice. Figures come from the company's own release unless stated; forward-looking guidance is management's current forecast and can change.