April 26, 2017 12:48 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 to investor-owned utilities, independent power producers, municipalities, electric cooperatives, and other load serving entities through power purchase agreements. As of December 31, 2016, it owned 11,768 megawatts of generating capacity. The company was founded in 2001 and is based in Atlanta, Georgia. Southern Power Company is a subsidiary of The Southern Company.

30 Ivan Allen Jr. Boulevard, NW

Atlanta, GA 30308

United States

Founded in 2001

Phone:

404-506-5000

Key Executives for Southern Power Company

Chairman, Chief Executive Officer and President
Age: 54
Chief Financial Officer, Senior Vice President and Treasurer
Age: 46
Chief Operating Officer and Senior Vice President
Age: 47
Chief Administrative Officer, Senior Vice President and General Counsel
Age: 47
Senior Vice President and Senior Production Officer
Age: 50
Compensation as of Fiscal Year 2016.

Southern Power Company Key Developments

Southern Power Launches Commercial Operations at the 120-Mw East Pecos Solar Park in Texas

Southern Power has launched commercial operations at the 120-MW East Pecos solar park in Texas. The photovoltaic (PV) facility is situated in Pecos County, West Texas Region. It is powered by about 1.2 million solar panels by First Solar Inc., which was responsible for construction of the park, which started in February 2016, and will also provide operation and maintenance services. The output of the plant and related renewable energy credits will be sold to Austin Energy under a 15-year power purchase agreement (PPA). The East Pecos park supports Southern Power's strategy to expand its wholesale business by acquiring and building new power generation facilities. At present, Southern Power has announced, operational, or under construction nearly 3,200 MW of renewable energy plants in the US, including 36 solar, wind and biomass installations.

Southern Power Company Presents at Solar Power Finance & Investment Summit 2017, Mar-22-2017 04:40 PM

Southern Power Company Presents at Solar Power Finance & Investment Summit 2017, Mar-22-2017 04:40 PM. Venue: San Diego, California, United States. Speakers: Kenneth Kelly, Business Development Manager.

Southern Power Announces Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016

Southern Power announced earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported Operating Revenue was $389 million against operating revenues of $304 million a year ago. Loss before income taxes was $8 million against earnings before income taxes of $41 million a year ago. Net income available to common was $23 million against net income available to common of $34 million a year ago. For the full year, the company reported Operating Revenue was $1,577 million against operating revenues of $1,390 million a year ago. Earnings before income taxes was $179 million against earnings before income taxes of $250 million a year ago. Net income available to common was $338 million against net income available to common of $215 million a year ago.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
January 9, 2017
Southern Power Company, 276-MW Bethel Wind Energy Center in Texas
Merger/Acquisition
December 22, 2016
EDF Renewable Energy, Inc., Two Wind Projects in Texas
Merger/Acquisition
November 17, 2016
100 Mega Watt Boulder Solar I Facility in Nevada
 

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