Southern Company subsidiary acquires Grant Plains wind facility

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Aug 29, 2016, 09:00 ET

ATLANTA, Aug. 29, 2016 /PRNewswire/ -- Southern Company subsidiary Southern Power today announced the acquisition of the 147-megawatt (MW) Grant Plains wind facility in Oklahoma from Apex Clean Energy.

"The acquisition of the Grant Plains wind facility is an important step in strategically growing our renewable energy portfolio," said Southern Power President and CEO Buzz Miller. "This project aligns with our business model and underscores our commitment to developing wind generation."

The Grant Plains wind facility will be located in Grant County, Oklahoma, and is expected to utilize 64 wind turbines manufactured by Siemens. Grant Plains will be Southern Power's third wind facility in Oklahoma, building on a portfolio that includes the adjacent 151-MW Grant Wind facility and the 299-MW Kay Wind facility, both also acquired from Apex with turbines produced by Siemens. Grant Plains 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.

Apex Clean Energy is managing the construction and will operate and maintain the facility upon completion. IEA Renewable Energy Inc., a wholly owned subsidiary of Infrastructure and Energy Alternatives, LLC, is serving as the engineering, procurement and construction contractor. Construction began in the first quarter this year, and the plant is expected to achieve commercial operation in December 2016.

With the addition of the Grant Plains wind facility, Southern Power owns more than 2,400 MW of renewable generation from 31 solar, wind and biomass facilities either announced, acquired or under construction. Across its system, Southern Company has added or announced more than 4,000 MW of renewable generation since 2012.

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 serving more than 40 million end users. Southern Power and its subsidiaries own or have the rights to 40 facilities operating or under construction in 10 states with more than 11,000 MW of generating capacity in Alabama, California, Florida, Georgia, Maine, Nevada, New Mexico, North Carolina, Oklahoma and Texas.

About Southern Company

Southern Company (NYSE: SO) is America's premier energy company, with 44,000 MW of generating capacity and 1,500 billion cubic feet of combined natural gas consumption and throughput volume serving 9 million electric and gas utility customers through its subsidiaries. The company provides clean, safe, reliable and affordable energy through electric utilities 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, 21^st 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, 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 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 Grant Plains 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, 2015, 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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