Southern Co.'s (SO) Southern Power acquires Millers Branch Solar Facility
- S&P 500 and Nasdaq notch highest closes since early 2022
- U.S. economy adds 199,000 jobs in November
- Fed should 'lowball' rate cuts expectations next week says analyst after strong jobs data
- Bernstein's best idea for 2024? Short Tesla stock
- Analysts defend Broadcom as annual guidance falls short after FQ4 earnings beat
Southern Power, a leading
"Millers Branch represents a significant milestone for Southern Power as we are entering this project with expansion opportunities," said Southern Power President
The project, located in
Once operational, the electricity and associated renewable energy credits generated by the 200 MW facility will be sold under a 20-year virtual power purchase agreement with Thermo Fisher Scientific, which uses the renewable energy certificates to drive progress toward its net zero-by-2050 commitment.
With the addition of Millers Branch, Southern Power's solar portfolio consists of more than 2,590 MW of solar generation. Southern Power's solar facilities are a part of the company's 5,130 MW renewable fleet, which consists of 29 solar and 15 wind facilities currently 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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Citi Starts Southern Co. (SO) at Buy, 'Out of the Penalty Box'
- NYSE to Commence Delisting Proceedings Against Black Mountain Acquisition Corp. (BMAC)
- DoorDash (DASH) PT Raised to $120 at Mizuho Securities; Sees 'Meaningful' EBITDA Upside
Create E-mail Alert Related CategoriesCorporate News, Mergers and Acquisitions
Related EntitiesDefinitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!