Southern Company subsidiary surpasses 400 MW of solar generation development in Georgia
ATLANTA, June 24, 2015 /PRNewswire/ -- Southern Company subsidiary Southern Power announced today that its commitment to develop renewable generation has surpassed 400 megawatts (MW) in the state of Georgia with the acquisition of the 20-MW Butler Solar Farm from Strata Solar.
"By harnessing emerging technologies, and innovating around the full energy portfolio, Southern Company continues to fulfill our promise to deliver real solutions for America's energy future," said Southern Company Chairman, President and CEO Thomas A. Fanning.
Strata Solar launched the project, which was selected by Southern Company subsidiary Georgia Power in a competitive process through the nationally recognized Georgia Power Advanced Solar Initiative.
To be located on approximately 150 acres in Taylor County, Georgia – approximately one mile from the previously-acquired 103-MW Butler Solar Facility – the Butler Solar Farm is expected to enter commercial operation in the fourth quarter of 2015. It will consist of more than 263,000 of First Solar, Inc.'s thin-film photovoltaic solar modules.
Construction is slated to begin in July, with Strata Solar managing the engineering, procurement and construction of the facility. Southern Power will provide the onsite operation and maintenance of the facility in partnership with First Solar.
Georgia Power will purchase the energy generated from the 20-MW farm under a 20-year power purchase agreement. Southern Power will retain the associated renewable energy credits, which it may sell to third parties.
A national leader in renewable energy, Southern Power has announced, acquired or is constructing more than 1,200 MW of renewable generating capacity with 18 solar, wind and biomass projects, including six solar projects in Georgia. These projects add diversity and reliability to Southern Company's generation mix of nuclear, 21st century coal, natural gas, renewables and energy efficiency.
The Butler Solar Farm fits Southern Power's business strategy of growing its wholesale business through the acquisition and construction of generating assets substantially covered by long-term contracts.
Southern Power, a subsidiary of Southern Company, is a leading U.S. wholesale energy provider, meeting the electricity needs of municipalities, electric cooperatives and investor-owned utilities. With this acquisition, Southern Power and its subsidiaries will own or have the right to own 27 facilities in nine states, with more than 9,800 MW of generating capacity operating or under development in Alabama, California, Florida, Georgia, Nevada, New Mexico, North Carolina, Oklahoma and Texas.
With more than 4.5 million customers and approximately 46,000 megawatts of generating capacity, Atlanta-based Southern Company (NYSE: SO) is the premier energy company serving the Southeast through its subsidiaries. A leading U.S. producer of clean, safe, reliable and affordable electricity, Southern Company owns electric utilities in four states and a growing competitive generation company, as well as fiber optics and wireless communications. Southern Company brands are known for energy innovation, excellent customer service, high reliability and retail electric prices that are below the national average. Southern Company and its subsidiaries are leading the nation's nuclear renaissance through the construction of the first new nuclear units to be built in a generation of Americans and are demonstrating their commitment to energy innovation through the development of a state-of-the-art coal gasification plant. Southern Company has been recognized by the U.S. Department of Defense and G.I. Jobs magazine as a top military employer, listed by DiversityInc as a top company for Blacks and designated a 2013 Top Employer for Hispanics by Hispanic Network. The company received the Edison Award from the Edison Electric Institute for its leadership in new nuclear development, was named Electric Light & Power magazine's Utility of the Year for 2012 and is continually ranked among the top utilities in Fortune's annual World's Most Admired Electric and Gas Utility rankings. Visit our website at www.southerncompany.com.
Cautionary Note Regarding Forward-Looking Statements:
Certain information contained in this release is forward-looking information based on current expectations and plans that involve risks and uncertainties. Forward-looking information includes, among other things, statements concerning the construction and subsequent operation of the Butler Solar Farm and the future generating capacity of Southern Power and its subsidiaries' facilities. Southern Company and Southern Power caution that there are certain factors that can cause actual results to differ materially from the forward-looking information that has been provided. The reader is cautioned not to put undue reliance on this forward-looking information, which is not a guarantee of future performance and is subject to a number of uncertainties and other factors, many of which are outside the control of Southern Company and Southern Power; accordingly, there can be no assurance that such suggested results will be realized. The following factors, in addition to those discussed in each of Southern Company's and Southern Power's Annual Report on Form 10-K for the year ended December 31, 2014, and subsequent securities filings, could cause actual results to differ materially from management expectations as suggested by such forward-looking information: the ability to control costs and avoid cost overruns during the development and construction of generating facilities, to construct facilities in accordance with the requirements of permits and licenses, and to satisfy any operational and environmental performance standards, including the requirements of tax credits and other incentives; and potential business strategies, including acquisitions or dispositions of assets or businesses, which cannot be assured to be completed or beneficial to Southern Company or Southern Power. Southern Company and Southern Power expressly disclaim any obligation to update any forward-looking information.
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SOURCE Southern Company
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