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June 03, 2015 12:49 PM ET

Independent Power and Renewable Electricity Producers

Company Overview of Southern Power Company

Company Overview

Southern Power Company, a public utility 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, 2014, it had 9,074 megawatts of nameplate capacity in commercial operation. 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, President and Director
Chief Financial Officer, Vice President and Treasurer
Age: 44
Executive Vice President, General Counsel and Director
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 Reports Earnings Results for the First Quarter Ended March 31, 2015

Southern Power reported earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported operating revenues of USD 348 million against USD 351 million a year ago. Earnings before income taxes were USD 45 million compared to USD 37 million a year ago. Net income available to common shareholders was USD 33 million compared to USD 33 million a year ago.

Southern Power Company Announces Earnings Results for the Fourth Quarter and Year Ended December 31, 2014

Southern Power Company announced earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported operating revenues of $386 million compared to $300 million a year ago. Earnings before income taxes were $18 million compared to $32 million a year ago. Net income available to common shareholders was $44 million compared to $24 million a year ago. For the year, the company reported operating revenues of $1,501 million compared to $1,275 million a year ago. Earnings before income taxes were $172 million compared to $211 million a year ago. Net income available to common shareholders was $172 million compared to $166 million a year ago.

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.

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Recent Private Companies Transactions

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Date
Target
Merger/Acquisition
May 7, 2015
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Merger/Acquisition
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32-Megawatt (MW) Lost Hills-Blackwell Solar Facility in California
 

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