December 20, 2014 4:56 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 through purchase power agreements to investor-owned utilities, independent power producers, municipalities, and electric co-operatives. As of December 31, 2013, it had approximately 8,924 megawatts of generating capacity. The company was founded in 2001 and is based in Atlanta, Georgia. Southern Power Company is 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: 44
Executive Vice President
Age: 61
Executive Vice President
Age: 64
Executive Vice President
Age: 65
Compensation as of Fiscal Year 2014.

Southern Power Company Key Developments

Southern Power Plans to Develop 131-Megawatt Photovoltaic Solar Project in Georgia

Southern Company subsidiary Southern Power announced plans to develop a 131-megawatt (MW) photovoltaic (PV) solar project in Georgia, which will be capable of generating enough electricity to help meet the energy needs of more than 21,000 homes. The electricity and associated renewable energy credits (RECs) will be sold to three Georgia electric membership corporations. Southern Power has selected First Solar to be the engineering, procurement and construction contractor for the facility. Construction of the plant is scheduled to begin in September 2015, and the project is expected to achieve commercial operation in the fourth quarter of 2016. The solar facility, which will be constructed on a 911-acre site in Taylor County, is expected to consist of approximately 1.6 million thin-film PV solar modules mounted on single-axis tracking tables manufactured by First Solar.

Southern Power Co. Acquires 150 MW Solar Project in $500 Million Deal

Southern Power Co. on October 23, 2014 announced that it has acquired a 150 MW solar project now under construction in Southern California from First Solar Inc. in a deal valued at $508 million. The solar power project, to be the large solar facility in Southern's portfolio, is being built across three sites in Imperial County, Calif., with each hosting an approximately 50-MW solar PV system. The SolarGen 2 plant will sell power to Sempra Energy subsidiary San Diego Gas & Electric Co. under a 25-year power purchase agreement. Under the terms of the deal, Southern Power's SG2 Holdings will initially own 100% of the project, with First Solar agreeing to acquire a minority interest subject to certain terms and upon fulfillment of certain conditions. First Solar will also operate and maintain the facility.

Southern Power Announces Acquisition of 150-Megawatt (MW) Solar Gen 2 Solar Facility in California

Southern Power announced the acquisition of the 150-megawatt (MW) Solar Gen 2 solar facility in California from First Solar Inc. As the largest solar facility in the Southern Power portfolio, Solar Gen 2 is expected to generate enough electricity to power more than 60,000 average California homes. The Solar Gen 2 project spans three sites -- each of which is approximately a 50-MW grid-connected solar photovoltaic (PV) system -- comprising a combined 1,451 acres of land in Imperial County, California. The project will consist of more than one million thin-film PV solar modules mounted on single-axis tracking tables manufactured by First Solar.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
October 23, 2014
First Solar, Inc., A 150-Mega Watt Solar Gen 2 solar Facility in California
Merger/Acquisition
May 23, 2014
First Solar, Inc., Macho Springs Solar Project
 

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