Southern Power, a subsidiary of U.S. electricity giant Southern Company, has announced the acquisition of its second PV installation in California — the 20 MW Adobe Solar Facility — in partnership with Turner Renewable Energy.
The Southern Power-Turner Renewable Energy partnership's sixth solar project acquisition is expected to close upon the completion of construction, anticipated in spring 2014.
"Southern Company continues to be a leader in the development of renewable generation," said Southern Company Chairman, President and CEO Thomas A. Fanning. "The Adobe Solar Facility reflects our ongoing commitment to develop the full portfolio of energy resources — an effort that has amounted to more than 1,700 MW of additional renewable energy resources since January 2012."
SunEdison will build, operate and maintain the Adobe Solar Facility. Construction of the project began this fall.
Ted Turner, owner of Turner Renewable Energy, teamed with Southern Company through a subsidiary in January 2010 to develop renewable energy projects in the United States. The partnership has primarily focused on developing and investing in solar PV projects where solar resources are most favorable.
"Renewable energy is playing an increasingly important role in meeting America's energy needs," said Turner. "The agreement to acquire the Adobe Solar Facility demonstrates our companies' continued commitment to the strategic development of renewable energy."
The Adobe Solar Facility will be located on a 160-acre (64.7-hectare) site south of the city of Bakersfield in Kern County, California. Electricity generated by the plant will serve a 20-year power purchase agreement with Southern California Edison, a subsidiary of Edison International. Headquartered in Rosemead, California, Edison International, through its subsidiaries, is a generator and distributor of electric power and an investor in infrastructure and energy assets, including renewable energy.
The acquisition is in line with Southern Power's declared strategy of growing the wholesale business in targeted markets through acquiring generating assets and building new units, the output of which is significantly covered by long-term contracts.
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