July 27, 2016 2:59 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 to investor-owned utilities, independent power producers, municipalities, electric cooperatives, and other load serving entities through power purchase agreements. As of July 7, 2016, it owned or had rights to 38 facilities operating or under construction with approximately 10,800 megawatts of generating capacity in Alabama, California, Florida, Georgia, Nevada, New Mexico, North Carolina, Oklahoma, and Texas. The company was founded in 2001 and is based in Atlanta, Georgia. Southern Power Compa...

30 Ivan Allen Jr. Boulevard, NW

Atlanta, GA 30308

United States

Founded in 2001

Phone:

404-506-5000

Key Executives for Southern Power Company

Chief Executive Officer, President and Director
Age: 54
Chief Financial Officer, Vice President and Treasurer
Age: 46
Executive Vice President
Age: 66
Executive Vice President
Age: 67
Executive Vice President
Age: 62
Compensation as of Fiscal Year 2016.

Southern Power Company Key Developments

Southern Power Company Announce Leadership Changes

Southern Company announced executive leadership changes involving several of its subsidiaries, effective July 30. John G. Trawick has been named senior vice president and chief operating officer for subsidiary Southern Power. Trawick was formerly senior vice president of commercial operations and planning for Southern Company Services. In this role, Trawick will lead the operations of Southern Power's expanding electric generation fleet, as well as project development and construction, and asset optimization. John L. Pemberton has been named senior vice president, chief administrative officer and general counsel for Southern Power. Pemberton was formerly senior vice president and senior production officer for subsidiary Georgia Power. In this position, Pemberton will work closely with the Southern Company system legal organization. His additional responsibilities will include contract compliance, environmental compliance, communications, real estate and coordinating with system federal policy efforts. Theodore "Ted" J. McCullough will assume Pemberton's senior production officer responsibilities for Georgia Power's 17,500 megawatts of natural gas, coal and hydro generation. McCullough is the current senior vice president and chief production officer for Southern Company Services. McCullough takes on this role in addition to his current duties, which include overseeing the operation of the Southern Company system's fossil, hydro and renewable generation assets.

Southern Power Acquires Lamesa Solar Facility in Texas

Southern Power announced the acquisition of its third Texas solar project in less than a year – the 102-megawatt (MW) Lamesa Solar Facility – from RES America Developments Inc. (RES). Southern Power will sell the electricity and associated renewable energy credits (RECs) generated by the facility under a 15-year power purchase agreement to the city of Garland. The Lamesa project fits Southern Power's business strategy of growing its wholesale business through the acquisition and construction of generating assets substantially covered by long-term contracts. RES, which provides development, engineering, construction and operation services to renewable energy, energy storage and transmission markets across the Americas, co-developed the Lamesa project with the originating developer, BNB Renewable Energy Holdings. RES will construct and serve as the operations and maintenance contractor for the facility, which is located on 887 acres in Dawson County, Texas, and expected to consist of 410,000 photovoltaic solar panels. Construction activities are set to begin in July, and the facility is expected to be commercially operational by mid-year 2017. Once operational, the facility is expected to be capable of generating enough electricity to help meet the energy needs of approximately 26,000 U.S. homes.

Southern Power Acquires Henrietta Solar Project

Southern Company subsidiary Southern Power and SunPower Corp. announced that Southern Power has acquired a controlling interest in the 102-megawatt (MW) Henrietta Solar Project in Kings County, California, from SunPower, which will own the remaining interest in the project. The Henrietta Solar Project represents Southern Power's first joint venture with SunPower, which developed, designed and is constructing the facility and will operate and maintain it upon completion. Construction began in May 2015, and the project is expected to be fully operational in the third quarter of this year. Existing Southern Power customer Pacific Gas and Electric Company will purchase the electricity and associated renewable energy credits (RECs) generated by the facility under a 20-year power purchase agreement. SunPower is constructing a SunPower® Oasis® Power Plant system at the approximately 670-acre Henrietta site. Oasis is a fully-integrated, modular solar power block that is engineered to rapidly and cost-effectively deploy utility-scale solar projects while optimizing land use. Once operational, the facility is expected to be capable of generating enough electricity to help meet the energy needs of approximately 24,000 average U.S. homes. The Henrietta Solar Project fits Southern Power's business strategy of growing its wholesale business through the acquisition and construction of generating assets substantially covered by long-term contracts. With more than 2,100 MW of renewable generating capacity ownership, Southern Power assembled its nationally recognized renewable portfolio through the strategic acquisition or development of 28 solar, wind and biomass projects that are either in operation or under construction across the United States. The Henrietta Solar Project marks Southern Power's 11th solar project in California and is the company's first acquisition in Kings County.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
July 8, 2016
Cypress Creek Renewables, LLC, 74 Megawatt Rutherford Farm Facility in North Carolina
Merger/Acquisition
July 6, 2016
102 MW Henrietta Solar Project in Kings County, California
Merger/Acquisition
June 15, 2016
Invenergy Wake Wind Holdings LLC
 

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