Georgia Power continues renewable energy expansion by seeking 1,000+ MW of new generation
Georgia Power announced its commitment to expanding renewable energy, launching a draft Request for Proposals (RFP) for 1,030 MW of new Utility-Scale renewable resources, with in-service dates in 2023 and 2024. This initiative follows the 2019 Integrated Resource Plan, which authorized the procurement of 2,000 MW of renewable resources. Already hosting over 2,700 MW of renewable capacity, Georgia Power aims to enhance its portfolio while offering competitive rates to its customers. Bidding for the RFP will commence in Q1 2022.
- Georgia Power plans to add 1,030 MW of renewable resources by 2024, enhancing its energy mix.
- The company already has over 2,700 MW of renewable capacity, positioning it as a leader in renewable energy.
- The initiative reflects Georgia Power's proactive approach to meet customer demand for renewable energy.
- None.
ATLANTA, Nov. 8, 2021 /PRNewswire/ -- Georgia Power is committed to maintaining a diverse, reliable generation mix while providing all customers with renewable energy options. With more than 2,700 MW* of renewable capacity already online and an additional 2,700 MW slated to come online by the end of 2024, Georgia Power continues to offer one of the largest voluntary renewable portfolios in the nation. As part of this continued expansion, Georgia Power has released its draft Request for Proposals (RFP) for approximately 1,030 MW* of new Utility-Scale renewable resources with in-service dates in 2023 and 2024 (The 23-24 RFP).
The 23-24 RFP is the second of two Utility Scale renewable solicitations from the company's 2019 Integrated Resource Plan (IRP), which authorized Georgia Power to procure energy from a total of 2,000 MW of Utility Scale renewables resources. The company will begin accepting bids in Q1 2022 in the continuing evolution of the company's energy mix.
"Renewable energy is thriving in Georgia and we are excited to launch this RFP to allow us to review and select projects that will provide the most value to our customers," said Wilson Mallard, director of Renewable Development for Georgia Power. "Georgia Power has worked closely with the Georgia Public Service Commission to grow the amount of renewable energy supplying our customers in Georgia, and we are eager to implement the next phase of competitive RFPs to procure additional economic renewable resources for our diverse generation mix."
Renewable resources greater than 3 MW in size and located in the continental United States are eligible to participate in The 23-24 RFP. The 23-24 RFP seeks both energy-only as well as renewable-coupled storage products. The Accion Group, Inc. serves as the Independent Evaluator, and interested parties are invited to register on the Accion website to review the RFP and PPA documents.
To learn more about Georgia Power's various solar programs, as well as solar tools and resources for customers, visit www.GeorgiaPower.com/Solar.
* REC Disclaimer: Georgia Power purchases only the null energy output from some renewable generating facilities that have contracted to sell that energy to Georgia Power. Ownership of the associated RECs is specified in each respective power purchase agreement. The party that owns the RECs retains the right to use them. |
About Georgia Power
Georgia Power is the largest electric subsidiary of Southern Company (NYSE: SO), America's premier energy company. Value, Reliability, Customer Service and Stewardship are the cornerstones of the company's promise to 2.6 million customers in all but four of Georgia's 159 counties. Committed to delivering clean, safe, reliable and affordable energy at rates below the national average, Georgia Power maintains a diverse, innovative generation mix that includes nuclear, coal and natural gas, as well as renewables such as solar, hydroelectric and wind. Georgia Power focuses on delivering world-class service to its customers every day and the company is recognized by J.D. Power as an industry leader in customer satisfaction. For more information, visit www.GeorgiaPower.com and connect with the company on Facebook (Facebook.com/GeorgiaPower), Twitter (Twitter.com/GeorgiaPower) and Instagram (Instagram.com/ga_power).
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 expected renewable growth. Georgia Power cautions 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 Georgia Power; accordingly, there can be no assurance that such suggested results will be realized. The following factors, in addition to those discussed in Georgia Power's Annual Report on Form 10-K for the year ended December 31, 2020 and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2021, June 30, 2021, and September 30, 2021, 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, to satisfy any environmental performance standards and the requirements of tax credits and other incentives, and to integrate facilities into the Southern Company system upon completion of construction; and potential business strategies, including acquisitions or dispositions of assets or businesses, which cannot be assured to be completed or beneficial to Georgia Power. Georgia Power expressly disclaims any obligation to update any forward-looking information
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SOURCE Georgia Power
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