Southern Company subsidiary acquires two wind projects in Texas

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Dec 22, 2016, 02:45 ET

ATLANTA, Dec. 22, 2016 /PRNewswire/ -- Southern Company subsidiary Southern Power today announced the acquisition of two wind facilities in Texas – the 174-megawatt (MW) Salt Fork Wind Facility and the 126-MW Tyler Bluff Wind Facility – from EDF Renewable Energy. With these acquisitions, Southern Power owns more than 1,000 MW of wind power, growing its wholesale renewable portfolio to more than 3,000 MW.

"Southern Power is committed to strategically growing our wind generation portfolio," said Southern Power President and CEO Buzz Miller. "We are proud to add our second and third Texas wind facilities as we continue to help meet the energy needs of our customers."

With the addition of these two facilities, Southern Power has announced more than 3,000 MW of renewable generation across 35 solar, wind and biomass facilities that are operational or under construction. In total, the Southern Company system has added or announced more than 4,000 MW of renewable generation since 2012.

Salt Fork Wind Facility, located in Donley and Gray Counties, Texas, consists of 87 wind turbines manufactured by Vestas. The electricity and associated renewable energy credits (RECs) generated by the facility will be sold under separate, long-term contracts. The city of Garland, Texas, has signed a 14-year power purchase agreement for 150 MW and Salesforce has signed a 12-year agreement for 24 MW.

Tyler Bluff Wind Facility, located in Cooke County, Texas, consists of 52 wind turbines manufactured by Siemens. The majority of the facility's output is covered by an agreement with Procter & Gamble, allowing the company to offset 100 percent of the electricity needs for all its North America-based Fabric & Home Care plants. Southern Power will have the option to keep or sell the remaining RECs.

EDF Renewable Energy managed the development and construction of the facilities, which achieved commercial operation this month. EDF Renewable Services, the operations and maintenance subsidiary of EDF Renewable Energy, will provide balance-of-plant services.

These projects fit 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, investor-owned utilities and other energy customers. Southern Power and its subsidiaries own or have the rights to 45 facilities operating or under construction in 11 states with more than 12,300 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 megawatts 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, 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, 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 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 operation of the Salt Fork and Tyler Bluff wind facilities and the future generating capacity of Southern Power and its subsidiaries' facilities. 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.

SOURCE Southern Company