April 16, 2014 4:21 AM ET

Independent Power and Renewable Electricity Producers

Company Overview of Southern Power Company

Company Overview

Southern Power Company acquires, constructs, owns, and manages generation assets, primarily renewable energy projects. The company sells electricity in the wholesale market to investor-owned utilities, independent power producers, municipalities, and electric co-operatives. It owns and operates 15 facilities with approximately 8,700 megawatts of generating capacity operating or under construction in Alabama, California, Florida, Georgia, Nevada, North Carolina, Texas, and New Mexico. The company was founded in 2001 and is based in Atlanta, Georgia. Southern Power Company operates as a subsidiary of Southern Company.

30 Ivan Allen Jr. Boulevard, N.W.

Atlanta, GA 30308

United States

Founded in 2001

Phone:

404-506-5000

Key Executives for Southern Power Company

Chief Executive Officer
Chief Financial Officer
Age: 43
Director
Age: 64
Executive Vice President
Age: 60
Executive Vice President
Age: 61
Compensation as of Fiscal Year 2013.

Southern Power Company Key Developments

Southern Power Co. Announces Earnings Results for the Fourth Quarter and Year Ended December 31, 2013

Southern Power Co. announced earnings results for the fourth quarter and year ended December 31, 2013. For the quarter, the company reported operating revenues of $300 million compared to $292 million a year ago. Earnings before income taxes were $32 million compared to $48 million a year ago. Net income available to common shareholders was $24 million compared to $31 million a year ago. For the year, the company reported operating revenues of $1,275 million compared to $1,186 million a year ago. Earnings before income taxes were $211 million compared to $268 million a year ago. Net income available to common shareholders was $166 million compared to $175 million a year ago.

Southern Power Company Announces Executive Changes

Southern Power Company announced that Chris Cummiskey would leave to become chief commercial officer of the company. Nathan Deal named Chris Carr, formerly chief of staff for U.S. Sen. Johnny Isakson, as Cummiskey's replacement.

Southern Power Seeks Acquisitions

Southern Power Company seeks acquisitions. "We are pleased to enter our fourth partnership with Southern Company and Turner Renewable Energy, and are delighted they share our commitment to solar energy," said SunEdison President and Chief Executive Officer Ahmad Chatila. "The Adobe Solar Facility is another example of how SunEdison's innovation continues to make solar an economically attractive energy solution." Electricity generated by the plant will serve a 20-year power purchase agreement with Southern California Edison, a subsidiary of Edison International. The acquisition fits Southern Power's business strategy of growing the wholesale business in targeted markets through acquiring generating assets and building new units, the output of which is significantly covered by long-term contracts.

Similar Private Companies By Industry

Company Name Region
808 Renewable Energy Corporation United States
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Distributed Sun LLC United States
Niobrara Wind, LLC United States

Recent Private Companies Transactions

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Date
Target
No transactions available in the past 12 months.
 

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