Georgia Power Partners With U.S. Army Fort Garrison Eisenhower for Resiliency and To Reduce Carbon Footprint
Georgia Power, a subsidiary of Southern Company, has partnered with the U.S. Army Garrison Fort Eisenhower in a $72 million utility energy service contract (UESC). This initiative aims to enhance the energy efficiency and resilience of the 55,000-acre military installation near Augusta, GA. The project, the largest of its kind in Georgia Power's history, will focus on upgrading lighting systems, mechanical controls, on-site generation, and water conservation. Expected to be completed by Q1 2026, the upgrades will replace old diesel generators with modern natural gas systems, leading to an estimated $6 million in annual energy cost savings and a significant reduction in greenhouse gas emissions.
- Georgia Power's largest utility energy service contract at $72 million.
- Project completion expected by Q1 2026.
- Replacement of old diesel generators with natural gas systems.
- Estimated $6 million in annual energy cost savings.
- Project duration of approximately two years may delay immediate benefits.
Insights
Georgia Power's $72 million utility energy service contract (UESC) with U.S. Army Garrison Fort Eisenhower is a significant development. This partnership underscores Georgia Power's strategic move towards energy efficiency and sustainability projects, which can enhance its revenue streams and operational efficiency.
Key financial insights:
1. The project is expected to reduce energy costs at Fort Eisenhower by
2. The contract's scale—the largest in Georgia Power's history—indicates a robust demand for utility services in government sectors. This may positively influence Georgia Power's future earnings, as large-scale projects tend to provide steady cash flows over their duration.
Short-term and long-term implications:
In the short term, investors may see an uptick in Georgia Power's project-related revenues and an improvement in their financial metrics due to efficient project execution. Long-term benefits include increased market reputation and potential for more federal contracts, boosting overall growth and stability.
This deal aligns with broader industry trends towards sustainability and energy efficiency, making Georgia Power a relevant player in the green energy space.
The partnership between Georgia Power and Fort Eisenhower highlights a substantial commitment to reducing carbon footprints and enhancing energy resiliency. Transitioning from aging diesel generators to natural gas significantly lowers greenhouse gas emissions, aligning with global efforts to combat climate change.
Environmental benefits:
1. Replacing diesel with natural gas reduces the emission of harmful pollutants such as nitrogen oxides (NOx) and particulate matter (PM), contributing to better air quality and public health in the surrounding areas.
2. The focus on energy efficiency through lighting retrofits and HVAC replacements will decrease overall energy consumption, further cutting down CO₂ emissions.
Resiliency & sustainability:
The project also emphasizes energy resiliency by enhancing the reliability of the installation's power supply. This is important for critical operations at military installations, ensuring that energy disruptions are minimized.
In the long run, such sustainability initiatives will help Georgia Power solidify its position as a leader in the utility sector's transition towards greener energy solutions, which may positively impact its brand value and customer trust.
ATLANTA, GA / ACCESSWIRE / July 8, 2024 / Georgia Power, a Southern Company subsidiary, is partnering with U.S. Army Garrison Fort Eisenhower as a part of a
A utility energy service contract is a limited-source acquisition between a federal agency and serving utility for energy management services to improve the overall efficiency of buildings and mechanical equipment at a location. The improvements, coordinated by Georgia Power and fellow Southern Company subsidiary PowerSecure, are expected to reduce energy costs at Fort Eisenhower by
The key improvement for Fort Eisenhower is the replacement of an aging diesel generation infrastructure with new natural gas generation. The upgraded generation will be funded through energy savings from lighting retrofits, heating and air conditioning replacement and water conservation.
This investment is in addition to the broader utility privatization contract with Georgia Power serving as the owner of Fort Eisenhower's electric utility system. Accelerating electric framework investments under this contract serves to address the evolving energy needs of Fort Eisenhower while also reducing its carbon footprint.
"We are extremely happy to be partnering with Georgia Power for this project," said Col. Reginald K. Evans, U.S. Army Garrison Eisenhower Commander. "Replacing Fort Eisenhower's aging diesel powered generators with natural gas systems is a huge step toward reducing the installation's carbon footprint, in addition to the energy savings from the numerous other conservation measures planned."
"We are grateful for this partnership with U.S. Army Garrison Fort Eisenhower as we work toward furthering the energy efficiency at the installation and lessening the carbon footprint," said Latanza Adjei, senior vice president and chief customer officer for Georgia Power. "Collaborative efforts such as this are essential for creating a sustainable energy future and align with our commitment to our customers and communities."
About Southern Company
Southern Company (NYSE: SO) is a leading energy provider serving 9 million customers across the Southeast and beyond through its family of companies. Providing clean, safe, reliable and affordable energy with excellent service is our mission. The company has electric operating companies in three states, natural gas distribution companies in four states, a competitive generation company, a leading distributed energy distribution company with national capabilities, a fiber optics network and telecommunications services. Through an industry-leading commitment to innovation, resilience and sustainability, we are taking action to meet customers' and communities' needs while advancing our goal of net zero greenhouse gas emissions by 2050. Our uncompromising values ensure we put the needs of those we serve at the center of everything we do and are the key to our sustained success. We are transforming energy into economic, environmental and social progress for tomorrow. Our corporate culture and hiring practices have earned the company national awards and recognition from numerous organizations, including Forbes, The Military Times, DiversityInc, Black Enterprise, J.D. Power, Fortune, Human Rights Campaign and more. To learn more, visit www.southerncompany.com.
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 2.7 million customers in all but four of Georgia's 159 counties. Committed to delivering clean, safe, reliable and affordable energy, 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, the expected completion date and expected benefits of the UESC. Southern Company and Georgia 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 Georgia Power; accordingly, there can be no assurance that such suggested results will be realized. The following factors, in addition to those discussed in Southern Company's and Georgia Power's Annual Reports on Form 10-K for the year ended December 31, 2023 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 or other projects; the inherent risks involved in generation, transmission, and distribution of electricity, including accidents, explosions, fires, mechanical problems, discharges or releases of toxic or hazardous substances or gases, and other environmental risks; and catastrophic events such as fires, earthquakes, explosions, floods, tornadoes, hurricanes and other storms, droughts, pandemic health events, political unrest, wars or other similar occurrences. Southern Company and Georgia Power expressly disclaim any obligation to update any forward-looking information.
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