Southern Co. Wholesale Energy Subsidiary Makes 5th Georgia, USA Solar Acquisition.
M2 EQUITYBITES-June 2, 2015-Southern Co. Wholesale Energy Subsidiary Makes 5th Georgia, USA Solar Acquisition
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2 June 2015 - US-based utility operator Southern Co.'s (NYSE: SO) Southern Power wholesale energy subsidiary has acquired the Georgia, USA-based Pawpaw Solar Facility from Longview Solar LLC, the companys aid.
Pawpaw is a 30mw project. With the addition of the company's fifth solar acquisition in Georgia, Southern Power is developing a total of 385mw of solar generation in the state.
Terms of the deal were not disclosed.
The Pawpaw Solar Facility was initially proposed by Longview Solar LLC a joint venture of Elemental Energy Inc. and TUUSSO Energy, LLC and selected by Southern company subsidiary Georgia Power in a competitive process through the nationally recognized Georgia Power Advanced Solar Initiative.
Electricity and associated renewable energy credits generated by the facility will be sold under a 30-year power purchase agreement with Georgia Power, which will have the option to keep or sell the RECs for the benefit of its customers or renewable energy programs.
To be located on approximately 416 acres in Taylor County, Georgia, the Pawpaw Solar Facility is expected to consist of approximately 137,000 polycrystalline solar modules from Trina Solar mounted on single-axis tracking tables manufactured by NEXTracker. Construction is slated to begin this month, and the facility is expected to enter commercial operation in the fourth quarter of 2015.
Once completed, operation and maintenance will be managed by Southern Power. DEPCOM Power will serve as the engineering, procurement and construction contractor.
Southern Power's renewable energy portfolio of more than 1,200mw of company-owned generating capacity either already in operation or under development was assembled through the strategic development of a total of 17 solar, wind and biomass projects across the United States.
The company is a US 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 26 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.
Southern Co. owns electric utilities in four states and a growing competitive generation company, as well as fiber optics and wireless communications.
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