Southern Buys Two Solar Projects in Georgia From Tradewind

Southern Co., the third-largest U.S. utility owner by market value, bought two solar power plants in Georgia from developer Tradewind Energy Inc.

The Southern Power unit acquired the 80-megawatt Decatur Parkway Solar Project and the 19-megawatt Decatur County Solar Project, the Atlanta-based company said Friday in a statement. Both are in Bainbridge, Georgia.

Financial terms weren’t disclosed. The projects are expected to use solar panels from a top supplier, Jack Bonnikson, a spokesman for Southern Co., said in an e-mail.

Construction on the larger project is scheduled to begin this month while work on the 19-megawatt plant will begin in June. Southern’s regional utility Georgia Power has agreed to buy electricity from the plants.

With the acquisitions announced Friday, Southern Power owns or has under development about 670 megawatts of renewable energy capacity.

“Southern Power’s strategic investment in the Decatur solar projects will help meet Georgia’s growing energy needs,” Thomas Fanning, Southern Co.’s chief executive officer, said in the statement.

Duke Energy Corp. and NextEra Energy Inc. are the two largest U.S. power companies by market value.

Before it's here, it's on the Bloomberg Terminal.