ATLANTA, May 29, 2018 /PRNewswire/ -- Southern Power,
a leading U.S. wholesale energy provider and subsidiary of Southern
Company, today announced the acquisition of its tenth wind project
– the 100-megawatt (MW) Wildhorse Mountain Wind Facility, located
in Pushmataha County, OK.
Roaring Fork Wind, a co-development partnership between
Renewable Energy Systems Americas Inc. (RES) and Vestas, developed
the project. Once operational, all electric energy, capacity and
other attributes generated by the facility will be sold under a
20-year power purchase agreement to Arkansas Electric Cooperative
Corporation (AECC).
"We are proud to announce our tenth wind project as we continue
to build the future of energy," said Southern Power President and
CEO Mark Lantrip. "Wildhorse
Mountain is a great project for Southern Power's growing footprint
and a shining example of our collaborative partnership with RES.
Our long-time partner Vestas was also a key player in delivering on
this project. We look forward to its completion and operation."
The project is expected to consist of 29 Vestas wind turbines.
RES will provide the balance of plant construction of the facility,
and Vestas will provide long-term maintenance of the turbines
through a 20-year service agreement.
Wildhorse Mountain is expected to achieve commercial operation
in the fourth quarter of 2019. AECC intends to sell the renewable
energy credits associated with the electricity produced by
Wildhorse Mountain. AECC does not claim that the electricity to be
sold from this resource to its member cooperatives and others is
"green," "renewable," "clean" or has any other environmental
attribute.
"AECC works on behalf of more than 500,000 electric cooperative
members to add resources, like the 100 megawatts of capacity from
Wildhorse Mountain Wind Facility, to its generation portfolio,"
said Duane Highley, president and
CEO of AECC. "This wind facility along with AECC's diverse,
reliable generation portfolio provides energy at the lowest
possible cost to our members."
Wildhorse Mountain is Southern Power's fourth wind project
within the state of Oklahoma. With
this addition, Southern Power's wind portfolio consists of more
than 1,600 MW of wind generation. Southern Power's wind facilities
are part of the company's 3,000-MW renewable fleet, which consists
of 39 solar, wind and biomass facilities operating or under
construction.
This project aligns with Southern Power's overall business
strategy of strengthening its wholesale business by acquiring and
developing generating assets that are covered by long-term
contracts with counterparties with strong credit support.
About Southern Power
Southern Power, a subsidiary of Southern Company, is a leading
U.S. wholesale energy provider meeting the electricity needs of
municipalities, electric cooperatives, investor-owned utilities and
other energy customers. Southern Power and its subsidiaries own 49
facilities operating or under development in 11 states with more
than 12,300 MW of generating capacity in Alabama, California, Florida, Georgia, Maine, Minnesota, Nevada, New
Mexico, North Carolina,
Oklahoma and Texas.
About Southern Company
Southern Company (NYSE: SO) is America's premier energy company,
with 46,000 megawatts of generating capacity and 1,500 billion
cubic feet of combined natural gas consumption and throughput
volume serving 9 million customers through its subsidiaries. The
company provides clean, safe, reliable and affordable energy
through electric operating companies in four states, natural gas
distribution utilities in seven states, a competitive generation
company serving wholesale customers across America and a nationally
recognized provider of customized energy solutions, as well as
fiber optics and wireless communications. Southern Company brands
are known for excellent customer service, high reliability and
affordable prices that are below the national average. Through an
industry-leading commitment to innovation, Southern Company and its
subsidiaries are inventing America's energy future by developing
the full portfolio of energy resources, including carbon-free
nuclear, natural gas, renewables and energy efficiency, and
creating new products and services for the benefit of customers.
Southern Company has been named by the U.S. Department of Defense
and G.I. Jobs magazine as a top military employer, recognized among
the Top 50 Companies for Diversity by DiversityInc, listed by Black
Enterprise magazine as one of the 40 Best Companies for Diversity
and designated a Top Employer for Hispanics by Hispanic Network.
The company has earned a National Award of Nuclear Science and
History from the National Atomic Museum Foundation for its
leadership and commitment to nuclear development. Visit our website
at www.southerncompany.com.
Cautionary Notes Regarding Forward-Looking
Statements:
Certain information contained in this release is
forward-looking information based on current expectations and plans
that involve risks and uncertainties. Forward-looking information
includes, among other things, statements concerning the
construction and subsequent operation of the Wildhorse Mountain
Wind Facility. Southern Company and Southern Power caution
that there are certain factors that can cause actual results to
differ materially from the forward-looking information that has
been provided. The reader is cautioned not to put undue reliance on
this forward-looking information, which is not a guarantee of
future performance and is subject to a number of uncertainties and
other factors, many of which are outside the control of Southern
Company and Southern Power; accordingly, there can be no assurance
that such suggested results will be realized. The following
factors, in addition to those discussed in each of Southern
Company's and Southern Power's Annual Reports on Form 10-K
for the year ended December 31, 2017, and subsequent
securities filings, could cause actual results to differ materially
from management expectations as suggested by such forward-looking
information: the ability to control costs and avoid cost overruns
during the development and construction of generating facilities,
to construct facilities in accordance with the requirements of
permits and licenses, and to satisfy any operational and
environmental performance standards, including the requirements of
tax credits and other incentives; and potential business
strategies, including acquisitions or dispositions of assets or
businesses, which cannot be assured to be completed or beneficial
to Southern Company or Southern Power. Southern Company and
Southern Power expressly disclaim any obligation to update any
forward-looking information.
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SOURCE Southern Power