Southern Power acquires Glass Sands Wind Facility
Southern Power has acquired the 118-MW Glass Sands Wind Facility from Steelhead Americas, marking its 15th wind project. Located in Murray County, Oklahoma, Glass Sands will utilize 28 Vestas-manufactured turbines and is projected to commence operations in Q4 2021. The facility will supply electricity and renewable energy credits under a power purchase agreement with Amazon. This acquisition expands Southern Power's wind portfolio to over 2,533 MW, part of a larger 4,928-MW renewable fleet, reinforcing the company's strategy of acquiring long-term, credit-supported generating assets.
- Acquisition of Glass Sands Wind Facility enhances Southern Power's renewable portfolio.
- Increases total wind generation capacity to over 2,533 MW.
- Electricity will be sold under a long-term power purchase agreement with Amazon.
- Construction and operational risks associated with the new facility.
- Dependence on the performance of counterparties under agreements.
ATLANTA, April 20, 2021 /PRNewswire/ -- Southern Power, a leading U.S. wholesale energy provider and subsidiary of Southern Company, today announced the acquisition of its 15th wind project — the 118-megawatt (MW) Glass Sands Wind Facility — from Steelhead Americas, Vestas' development arm in North America.
"We are proud to announce this new addition to our generation portfolio," said Southern Power President Bill Grantham. "Glass Sands is a great project for Southern Power as we continue to provide clean renewable energy resources to meet the needs of our customers."
The project, located in Murray County, Oklahoma, is Southern Power's fifth wind facility in the state and contributes to the company's growing fleet of clean energy resources from California to Maine. Glass Sands was developed by Steelhead Americas and is expected to utilize 28 wind turbines manufactured by Vestas. Construction, executed by Mortensen, is underway, and the project is expected to achieve commercial operation in the fourth quarter of this year.
Once operational, the electricity and associated renewable energy credits generated by the facility will be sold under a power purchase agreement with Amazon.
With the addition of Glass Sands, Southern Power's wind portfolio consists of more than 2,533 MW of wind generation. Southern Power's wind facilities are a part of the company's 4,928-MW renewable fleet, which consists of 43 solar and wind facilities operating or under construction.
This project aligns with Southern Power's overall business strategy of strengthening its wholesale business by acquiring and developing generating assets that are covered by long-term contracts with counterparties with strong credit support.
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. Southern Power and its subsidiaries, some of which are owned in part with various partners, own or operate 54 facilities operating or under development in 14 states with more than 12,498 MW of generating capacity in Alabama, California, Delaware, Georgia, Kansas, Maine, Nevada, New Mexico, North Carolina, Oklahoma, South Dakota, Texas, Washington and West Virginia.
About Southern Company
Southern Company (NYSE: SO) is a leading energy company serving 9 million customers through its subsidiaries. The company provides clean, safe, reliable and affordable energy through electric operating companies in three states, natural gas distribution companies in four states, a competitive generation company serving wholesale customers across America, a leading distributed energy infrastructure company, a fiber optics network and telecommunications services. Southern Company brands are known for excellent customer service, high reliability and affordable prices below the national average. For more than a century, we have been building the future of energy and developing the full portfolio of energy resources, including carbon-free nuclear, advanced carbon capture technologies, natural gas, renewables, energy efficiency and storage technology. Through an industry-leading commitment to innovation and a low-carbon future, Southern Company and its subsidiaries develop the customized energy solutions our customers and communities require to drive growth and prosperity. Our uncompromising values ensure we put the needs of those we serve at the center of everything we do and govern our business to the benefit of our world. Our corporate culture and hiring practices have been recognized nationally by the U.S. Department of Defense, G.I. Jobs magazine, DiversityInc, Black Enterprise, Forbes and the Women's Choice Award. To learn more, visit www.southerncompany.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 construction and subsequent operation of the Glass Sands Wind Facility. 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, 2020, 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, to construct facilities in accordance with the requirements of permits and licenses, to satisfy any environmental performance standards and the requirements of any tax credits and other incentives, and to integrate facilities into the Southern Company system upon completion of construction; performance of counterparties under ongoing renewable energy partnerships and development agreements; 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; and catastrophic events such as fires, earthquakes, explosions, floods, tornadoes, hurricanes and other storms, droughts, pandemic health events, political unrest, or other similar occurrences. Southern Company and Southern Power expressly disclaim any obligation to update any forward-looking information.
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SOURCE Southern Power
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