ATLANTA, Dec. 14, 2015 /PRNewswire/ -- Southern Company subsidiary Southern Power today announced its first wind project, the 299-megawatt (MW) Kay Wind facility in Kay County, Oklahoma, is fully operational.
"The completion of Kay Wind – Southern Power's first wind project – marks an important milestone for our company," said Southern Power President and Chief Executive Officer Oscar C. Harper. "Renewables remain a central focus as we continue developing sustainable energy solutions through projects that align with Southern Power's conservative business model."
The electricity and associated renewable energy credits (RECs) generated by the facility will be sold under 20-year power purchase agreements with Westar Energy Inc. in Kansas and Grand River Dam Authority (GRDA) in Oklahoma. Westar Energy has contracted for approximately 199 MW, and GRDA has contracted for approximately 100 MW. Both companies will have the option to either keep or sell the RECs.
Apex Clean Energy developed and will operate and maintain the facility. Blattner Energy Inc. served as the engineering, procurement and construction contractor.
The Kay Wind project consists of 130 wind turbines manufactured by Siemens and is capable of generating enough electricity to help meet the energy needs of approximately 100,000 average U.S. homes. Southern Power has also entered into an agreement to acquire the Grant Wind facility – a 150-MW project in Grant County, Oklahoma – upon successful completion of construction, which is expected to be in 2016. The facility is expected to utilize 66 wind turbines manufactured by Siemens.
Serving nearly 700,000 customers for more than a century, Westar Energy is Kansas' largest electric utility. GRDA is Oklahoma's state-owned electric utility, producing electricity that touches 75 of the 77 counties in the state. Apex Clean Energy is an independent renewable energy company focused on building utility-scale generation facilities, with one of the nation's largest, most diversified portfolios of renewable energy resources, capable of producing more than 12,000 MW of clean energy.
The Kay Wind 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.
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 and investor-owned utilities. Southern Power and its subsidiaries own or have rights to 32 facilities in nine states, with more than 10,300 MW of generating capacity operating or under development in Alabama, California, Florida, Georgia, Nevada, New Mexico, North Carolina, Oklahoma and Texas.
About Southern Company
With more than 4.5 million customers and approximately 46,000 megawatts of generating capacity, Atlanta-based Southern Company (NYSE: SO) is the premier energy company serving the Southeast through its subsidiaries. A leading U.S. producer of clean, safe, reliable and affordable electricity, Southern Company owns electric utilities in four states and a growing competitive generation company, 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 nuclear, 21st century coal, 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, listed by Black Enterprise magazine as one of the 40 Best Companies for Diversity and designated a 2014 Top Employer for Hispanics by Hispanic Network. The company earned the 2014 National Award of Nuclear Science and History from the National Atomic Museum Foundation for its leadership and commitment to nuclear development, and is continually ranked among the top utilities in Fortune's annual World's Most Admired Electric and Gas Utility rankings. Visit our website at www.southerncompany.com.
Cautionary Note 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 acquisition and subsequent operation of the Grant 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, 2014, 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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