Southern Power Acquires Skookumchuck Wind Facility
Oct 28, 2019, 09:00 ET
ATLANTA, Oct. 28, 2019 /PRNewswire/ -- Southern Power, a leading U.S. wholesale energy provider and subsidiary of Southern Company, today announced the acquisition of its 12th wind project — the 136-megawatt (MW) Skookumchuck Wind Facility — from RES (Renewable Energy Systems).
"This project is a great addition to our renewable portfolio," said Southern Power President Bill Grantham. "We continue to strive to develop clean, safe, reliable and affordable wholesale energy resources for the benefit of our customers."
The project, located in Lewis and Thurston Counties, Washington, is Southern Power's first wind facility in the state and contributes to the company's growing renewable fleet of clean generating assets from California to Maine. Skookumchuck was developed by RES and is expected to utilize 38 wind turbines manufactured by Vestas. Construction is underway, and the project is expected to achieve commercial operation in the first quarter 2020.
Once operational, the electricity and associated renewable energy credits generated by the facility will be sold under a 20-year power purchase agreement with Puget Sound Energy, which will utilize the resource to meet the electricity demand of their Green Direct product customers. Southern Power is the majority owner and has signed an agreement to sell a minority stake in the facility to TransAlta Corporation upon commercial operation.
With the addition of Skookumchuck, Southern Power's wind portfolio consists of more than 1,960 MW of wind generation. Southern Power's wind facilities are a part of the company's 3,190-MW renewable fleet, which consists of 40 solar and wind facilities operating or under construction.
This project aligns with Southern Power's overall business strategy of strengthening its wholesale business by acquiring and developing generating assets that are covered by long-term contracts with counterparties with strong credit support.
About Southern Power
Southern Power, a subsidiary of Southern Company, is a leading U.S. wholesale energy provider meeting the electricity needs of municipalities, electric cooperatives, investor-owned utilities and other energy customers. Southern Power and its subsidiaries own 50 facilities operating or under development in 13 states with more than 11,310 MW of generating capacity in Alabama, California, Delaware, Georgia, Kansas, Maine, Minnesota, Nevada, New Mexico, North Carolina, Oklahoma, Texas and Washington.
About Southern Company
Southern Company (NYSE: SO) is a leading energy company serving 9 million customers through its subsidiaries. The company provides clean, safe, reliable and affordable energy through electric operating companies in three states, natural gas distribution companies in four states, a competitive generation company serving wholesale customers across America, a leading distributed energy infrastructure company, a fiber optics network and telecommunications services. Southern Company brands are known for excellent customer service, high reliability and affordable prices below the national average. For more than a century, we have been building the future of energy and developing the full portfolio of energy resources, including carbon-free nuclear, advanced carbon capture technologies, natural gas, renewables, energy efficiency and storage technology. Through an industry-leading commitment to innovation and a low-carbon future, Southern Company and its subsidiaries develop the customized energy solutions our customers and communities require to drive growth and prosperity. Our uncompromising values ensure we put the needs of those we serve at the center of everything we do and govern our business to the benefit of our world. Our corporate culture and hiring practices have been recognized nationally by the U.S. Department of Defense, G.I. Jobs magazine, DiversityInc, Black Enterprise, Forbes and the Women's Choice Award. To learn more, visit www.southerncompany.com.
Cautionary Notes 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 Skookumchuck Wind Facility. 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 Reports on Form 10-K for the year ended December 31, 2018, 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 and schedule overruns during the development, construction and operation of facilities, to construct facilities in accordance with the requirements of permits and licenses, and to satisfy any environmental performance standards and the requirements of any 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.
SOURCE Southern Power
