Southern Power Acquires Millers Branch Solar Facility; No Financial Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
Southern Power, a subsidiary of Southern Company, has acquired its 29th solar project, the Millers Branch Solar Facility, from EDF Renewables. The 200 MW facility, currently in early development stages, has the potential to expand up to 500 MW. The project is expected to be operational by Q4 2025. The electricity and associated renewable energy credits generated will be sold under a 20-year virtual power purchase agreement with Thermo Fisher Scientific.
September 21, 2023 | 1:01 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Southern Company's subsidiary, Southern Power, has acquired a new solar project, potentially expanding its renewable energy capacity. This aligns with the company's strategy of strengthening its wholesale business.
The acquisition of the Millers Branch Solar Facility by Southern Power, a subsidiary of Southern Company, represents a significant expansion of the company's renewable energy portfolio. This aligns with the company's strategy of strengthening its wholesale business by acquiring and developing generating assets. The news is likely to be viewed positively by investors, potentially leading to an increase in the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100