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July 05, 2015 9:43 AM 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: 45
Executive Vice President, General Counsel and Director
Age: 62
Executive Vice President
Age: 65
Executive Vice President
Age: 66
Compensation as of Fiscal Year 2015.

Southern Power Company Key Developments

Southern Power Co. to Purchase 20-MW Ga. Solar Farm

Southern Co. announced that it adding another solar energy project to the portfolio of its Southern Power unit, increasing solar holdings in its home state of Georgia to more than 400 MW. Southern Co. said June 24 that its wholesale supply subsidiary Southern Power Co. has surpassed development of 400 MW of renewable energy capacity in Georgia by acquiring the proposed 20-MW Butler solar farm in Taylor County, Ga. Southern Power will acquire the facility from Strata Solar LLC under the Georgia Power Advanced Solar Initiative. The solar facility is expected to enter commercial operations during the fourth quarter, with Strata Solar managing the engineering, procurement and construction of the facility.

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.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
June 24, 2015
Strata Solar LLC, 20-MW Butler Solar Farm
Merger/Acquisition
June 1, 2015
Pawpaw Solar Facility
Merger/Acquisition
May 7, 2015
Butler Solar LLC
 

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