Southern Power acquires South Cheyenne Solar Facility

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Sep 25, 2023, 14:00 ET

ATLANTA, Sept. 25, 2023 /PRNewswire/ -- Southern Power, a leading U.S. wholesale energy provider and subsidiary of Southern Company, today announced the acquisition of its 30th solar project — the 150-megawatt (MW) South Cheyenne Solar Facility — from Qcells USA Corp. (Qcells USA).

"We are pleased to announce the acquisition of our 30th solar project," said Southern Power President Robin Boren. "This project enhances our solar portfolio and exemplifies our commitment to the continued growth of Southern Power as we build the future of energy."

The project, located in Wyoming, is Southern Power's first solar facility in the state and contributes to the company's growing renewable fleet of clean generating assets from California to Maine. Construction is underway, and the project is expected to achieve commercial operation in the first quarter of 2024.

South Cheyenne was developed by Qcells USA, which is also providing the engineering, procurement and construction of the project, as well as serving as the module supplier. The project is expected to create approximately 180 jobs during peak construction.

"We take pride in providing unique development solutions and fostering a strong, collaborative partnership for driving renewable energy advancements," said Qcells USA President IP Kim. "We are proud to partner with Southern Power to deliver long-term value to Wyoming customers through the South Cheyenne Solar Facility."

Once operational, the electricity and associated renewable energy credits generated by the facility will be sold under a 20-year power purchase agreement.

With the addition of South Cheyenne, Southern Power's solar portfolio includes more than 2,740 MW of solar generation. Southern Power's solar facilities are a part of the company's 5,280 MW renewable fleet, which consists of 30 solar and 15 wind facilities 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.

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, some of which are owned in part with various partners, own or operate 55 facilities operating or under development in 15 states with more than 12,840 MW of generating capacity in Alabama, California, Delaware, Georgia, Kansas, Maine, Nevada, New Mexico, North Carolina, Oklahoma, South Dakota, Texas, Washington, West Virginia and Wyoming.

About Southern Company
Southern Company (NYSE: SO) is a leading energy provider serving 9 million customers across the Southeast and beyond through its family of companies. Providing clean, safe, reliable and affordable energy with excellent service is our mission. The company has electric operating companies in three states, natural gas distribution companies in four states, a competitive generation company, a leading distributed energy distribution company with national capabilities, a fiber optics network and telecommunications services. Through an industry-leading commitment to innovation, resilience and sustainability, we are taking action to meet customers' and communities' needs while advancing our goal of net zero greenhouse gas emissions by 2050. Our uncompromising values ensure we put the needs of those we serve at the center of everything we do and are the key to our sustained success. We are transforming energy into economic, environmental and social progress for tomorrow. Our corporate culture and hiring practices have earned the company national awards and recognition from numerous organizations, including Forbes, The Military Times, DiversityInc, Black Enterprise, J.D. Power, Fortune, Human Rights Campaign and more. To learn more, visit 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 South Cheyenne Solar Facility, including the expected commercial operation date. 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, 2022, 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 and schedule overruns during the development, construction and operation of facilities, to construct facilities in accordance with the requirements of permits and licenses, to satisfy any environmental performance standards and the requirements of any tax credits and other incentives, and to integrate facilities into the Southern Company system upon completion of construction; performance of counterparties under ongoing renewable energy partnerships and development agreements; 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; and catastrophic events such as fires, earthquakes, explosions, floods, tornadoes, hurricanes and other storms, droughts, pandemic health events, political unrest, wars, or other similar occurrences. Southern Company and Southern Power expressly disclaim any obligation to update any forward-looking information.

SOURCE Southern Power