May 03, 2016 1:39 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 March 7, 2016, it owned or had rights to 35 facilities operating or under construction with approximately 10,500 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 Comp...

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: 53
Chief Financial Officer, Vice President and Treasurer
Age: 45
Executive Vice President
Age: 65
Executive Vice President
Age: 66
Executive Vice President
Age: 61
Compensation as of Fiscal Year 2015.

Southern Power Company Key Developments

Southern Power Acquires East Pecos Solar Facility in Texas

Southern Power announced the acquisition of the company's second solar project in Texas and its 35th generating facility overall the 120-megawatt (MW) East Pecos Solar Facility. The East Pecos Solar Facility will be located on approximately 1,000 acres in Pecos County and is expected to consist of approximately 1.2 million of First Solar's thin-film, photovoltaic solar modules mounted on single-axis tracking tables. First Solar is building and will operate and maintain the facility. Construction began in February and the facility is expected to reach commercial operation in the fourth quarter 2016. The electricity and associated renewable energy credits (RECs) generated by the facility will be sold under a 15-year power purchase agreement with Austin Energy, which will have the option to keep or sell the RECs. With more than 1,900 MW of renewable generating capacity ownership, Southern Power assembled its nationally recognized renewable portfolio through the strategic development of 26 solar, wind and biomass projects either in operation or under development across the United States. In all, the Southern Company system has added or announced more than 3,800 MW of renewable energy projects since 2012. The East Pecos Solar Facility 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.

Southern Power and Turner Renewable Energy Buy 20MW solar project in California, US

Southern Company subsidiary Southern Power, along with Turner Renewable Energy, has acquired 20MW Calipatria solar facility from Solar Frontier Americas in California. The project, which is expected to be developed on around 160 acres in Imperial County, will feature about 130,000 CIS thin-film solar modules. The Calipatria project, which is the ninth solar acquisition, is said to expand the partnership's overall solar capacity to around 340MW.

Southern Power Co. Announces Executive Changes

Southern Co. announced that Joseph 'Buzz' Miller will take the lead of Southern Power Co. as its president and CEO following Oscar Harper IV's retirement, effective March 7, 2016. Also, Mark Rauckhorst has been named executive vice president of construction for the Vogtle 3 & 4 project. Miller is Georgia Power Co.'s executive vice president of nuclear development and also Southern Nuclear's president of nuclear development, both Southern Co. businesses.

Similar Private Companies By Industry

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Blue Mountain Wind Holdings, LLC United States
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Ameren Energy Resources Company, LLC United States

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
March 7, 2016
First Solar, Inc., 120-MW East Pecos Solar Project in Texas
Merger/Acquisition
February 15, 2016
Solar Frontier Americas Inc., 20 Megawatt Calipatria Solar Facility
Merger/Acquisition
December 18, 2015
RE Silverlake Holdings LLC
 

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