Southern Power acquires Millers Branch Solar Facility
- Southern Power expands solar portfolio with 200 MW acquisition
- Potential for project expansion up to 500 MW
- Long-term contract with Thermo Fisher Scientific
- None.
"Millers Branch represents a significant milestone for Southern Power as we are entering this project with expansion opportunities," said Southern Power President Robin Boren. "The project exemplifies Southern Power's ongoing commitment to enhancing our solar portfolio as we build the future of energy."
The project, located in
Once operational, the electricity and associated renewable energy credits generated by the 200 MW facility will be sold under a 20-year virtual power purchase agreement with Thermo Fisher Scientific, which uses the renewable energy certificates to drive progress toward its net zero-by-2050 commitment.
With the addition of Millers Branch, Southern Power's solar portfolio consists of more than 2,590 MW of solar generation. Southern Power's solar facilities are a part of the company's 5,130 MW renewable fleet, which consists of 29 solar and 15 wind facilities currently 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
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.
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 Millers Branch Solar Facility, including the expected commercial operation date and potential future expansion opportunities. 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, 2022, 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, wars, 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
