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