Consolidated Electric Power Asia, the largest independent power producer in Asia, today became part of Southern Company, the United States’ largest producer of electricity.

Southern has acquired an 80 percent interest in CEPA from CEPA shareholders. The remaining 20 percent will be held by Hopewell Holdings Ltd., which previously held about 60 percent of CEPA’s shares. Southern announced the $2.7 billion deal Oct. 9.

“The close of this deal is a major step in our strategy of global diversification. Southern Company’s operational and financial strength and CEPA’s development and construction skills combine to create something great,” said A.W. Dahlberg, chairman, president and chief executive officer of Southern Company. “With a strong presence in Asia, the major growth area of the world, Southern Company now can help the region satisfy its huge need for energy.”

Hong Kong-based CEPA builds, owns and operates electric power generating plants in China and the Philippines, with projects under development in Indonesia, Pakistan and India. It operates 3,995 megawatts of power generation capacity, with another 3,840 under construction.

Southern Company will hold its CEPA interest through Southern Energy Inc., which develops, builds, owns and operates power production and delivery facilities and provides a broad range of energy, trading and marketing services in the U.S. and international markets. Southern Energy and its affiliates and subsidiaries operate electric power facilities in England, Argentina, Chile, the Bahamas, Trinidad and Tobago and the United States.

Atlanta-based Southern Company (NYSE: SO) also is the parent firm of five southeast U.S. electric utilities: Alabama Power, Georgia Power, Gulf Power, Mississippi Power and Savannah Electric. Southern Company’s common stock is one of the 20 most widely held corporate stocks in America.