Southern Company subsidiary and Turner Renewable Energy acquire Calipatria Solar Facility in California
Southern Company adds to renewable energy portfolio with subsidiary's acquisition in California
ATLANTA, Feb. 15, 2016 /PRNewswire/ -- Southern Company subsidiary Southern Power and Turner Renewable Energy today announced the joint acquisition of the 20-megawatt (MW) Calipatria Solar Facility from Solar Frontier Americas. The project represents Southern Power's 10th solar facility in California and its 25th renewable energy facility overall.
"The acquisition of the Calipatria Solar Facility underscores Southern Power's leadership in helping create America's energy future," said Southern Company Chairman, President and CEO Thomas A. Fanning. "Through strategic partnerships, including with Turner Renewable Energy, we are continuing our tremendous growth as a national renewable energy leader."
With more than 1,800 MW of generating capacity ownership, Southern Power assembled its nationally recognized renewable portfolio through the strategic development of 25 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.
Ted Turner, owner of Turner Renewable Energy, teamed with Southern Company through a subsidiary in January 2010 to form a strategic alliance to pursue the development of renewable energy projects in the United States. The partnership has primarily focused on developing and investing in large-scale solar photovoltaic (PV) projects in the Southwest. The company's ninth solar acquisition with Turner Renewable Energy, the Calipatria project brings the partnership's overall solar capacity to more than 340 MW operating or under development.
"The acquisition of the Calipatria Solar Facility is an important effort to further develop clean, renewable energy through this outstanding partnership," said Turner. "We are pleased to continue growing the solar portfolio in collaboration with Southern Company."
The Calipatria 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.
The project is expected to be located on approximately 160 acres in Imperial County and is expected to consist of approximately 130,000 CIS thin-film solar modules.
DEPCOM Power is providing engineering, procurement and construction services. Construction of the plant began in August 2015, and commercial operation is expected in the first quarter of 2016.
The facility has a 20-year power purchase agreement with San Diego Gas & Electric Company.
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 34 facilities in nine states, with more than 10,400 MW of generating capacity operating or under development in Alabama, California, Florida, Georgia, Nevada, New Mexico, North Carolina, Oklahoma and Texas.
About Turner Renewable Energy
Turner Renewable Energy is wholly owned by Ted Turner. Turner Enterprises Inc., a private company, manages the business interests, land holdings and investments of Ted Turner, including the oversight of 2 million acres in 12 states and in Argentina, and more than 51,000 bison.
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 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 Calipatria Solar 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.
SOURCE Southern Company
For further information: Southern Company Media Relations, 404-506-5333 or 866-506-5333, southerncompany.com