ATLANTA, Oct. 28, 2016 /PRNewswire/ -- Southern Company
subsidiary Southern Power today announced the acquisition of a
controlling interest in the 257-megawatt (MW) Wake Wind Energy
Center, the company's first wind acquisition in Texas. Invenergy Wind LLC developed and
constructed Wake Wind and owns the remaining interest in the
project.
"Southern Power remains committed to strategically developing
our renewable energy portfolio," said Southern Power President and
CEO Buzz Miller. "The Wake Wind Energy Center continues our growth
in wind generation and will provide renewable wholesale energy to
our customers."
The Wake Wind facility is located in the northwest Texas counties of Crosby and Floyd. The project 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.
"Wake Wind was developed to meet the needs of our customers for
long-term renewable energy supply," said Jim Murphy, Chief Financial Officer and
Operating Business Group President at Invenergy. "We're pleased
Southern Power, a company with the same dedication to providing
clean, affordable, wholesale generation to customers, wants to take
ownership in this great project and we look forward to exploring
additional opportunities to work with them in the
future."
With the addition of the Wake Wind Energy Center, Southern Power
owns more than 2,600 MW of renewable generation across 32 solar,
wind and biomass facilities either announced, acquired or under
construction. Across its system, Southern Company has added or
announced more than 4,000 MW of renewable generation since
2012.
Blattner Energy Inc. was the lead construction contractor for
Wake Wind Energy Center, and Invenergy Services LLC will operate
and maintain the facility. The Wake Wind Energy Center uses 150
wind turbines manufactured by General Electric Renewable
Energy.
The electricity and majority of the associated renewable energy
credits (RECs) generated by the facility will be sold under two
separate, long-term power sale agreements. Southern Power, through
its subsidiaries, will retain a small percentage of electricity and
RECs generated, which it may keep or sell.
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 that serve more than 40 million end users.
Southern Power and its subsidiaries own or have the rights to 42
facilities operating or under construction in 11 states with more
than 11,900 MW of generating capacity in Alabama, California, Florida, Georgia, Maine, Minnesota, Nevada, New
Mexico, North Carolina,
Oklahoma and Texas.
About Southern Company
Southern Company (NYSE: SO) is America's premier energy company,
with 44,000 megawatts of generating capacity and 1,500 billion
cubic feet of combined natural gas consumption and throughput
volume serving 9 million electric and gas utility customers through
its subsidiaries. The company provides clean, safe, reliable and
affordable energy through electric utilities in four states,
natural gas distribution utilities in seven states, a competitive
generation company serving wholesale customers across America and a
nationally recognized provider of customized energy solutions, as
well as fiber optics and wireless communications. Southern Company
brands are known for excellent customer service, high reliability
and affordable prices that are below the national average. Through
an industry-leading commitment to innovation, Southern Company and
its subsidiaries are inventing America's energy future by
developing the full portfolio of energy resources, including
carbon-free nuclear, 21st century coal, natural gas,
renewables and energy efficiency, and creating new products and
services for the benefit of customers. Southern Company has
been named by the U.S. Department of Defense and G.I. Jobs magazine as a top military employer,
recognized among the Top 50 Companies for Diversity by
DiversityInc, listed by Black Enterprise magazine as one of the 40
Best Companies for Diversity and designated a Top Employer for
Hispanics by Hispanic Network. The company has earned a National
Award of Nuclear Science and History from the National Atomic
Museum Foundation for its leadership and commitment to nuclear
development 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.
About Invenergy
Invenergy drives innovation in energy. Invenergy and its
affiliated companies develop, own, and operate large-scale
renewable and other clean energy generation and storage facilities
in the Americas, and Europe.
Invenergy's home office is located in Chicago and it has regional development
offices in the United States,
Canada, Mexico, Japan
and Europe. Invenergy and its affiliated companies have
developed more than 13,700 MW of projects that are
in operation, construction or advanced development, including
wind, solar, natural gas-fueled power generation and energy
storage projects. For more information, please visit
www.invenergyllc.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 operation
of the Wake Wind Energy Center. 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, 2015,
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