In 2015, Southern Power completed the issuance of $1 billion of green bonds (Series 2015C and 2015D), becoming the first investment-grade power producer in the U.S. to offer this type of security to support investment in sustainable generation.
Below you can see the specific Eligible Green Projects to which Southern Power has allocated the green bond proceeds ($994.1 million), the environmental benefits of those projects (representing 100% of each project) and Southern Power's management assertion letter together with the independent accountants' attestation report.
Series 2015D Update
In November 2017, Southern Power’s Series 2015D green bond matured ($498.5 million proceeds). At issuance, Southern Power allocated $994.1 million of proceeds from Series 2015C and 2015D to three projects. Now that the Series 2015D has matured, we have re-allocated proceeds from Series 2015C to the Decatur Parkway Solar Facility and Kay Wind Facility, and no longer have any proceeds allocated to the Solar Gen 2 Solar Facility. Going forward, Southern Power will only report updated production and environmental statistics associated with proceeds allocated to the Decatur Parkway Solar Facility and Kay Wind Facility.
Decatur Parkway Solar Facility
- Amount Allocated: $39.4 million (Southern Power also allocated $98.9 million from the June 2016 green bond issuance (total of $138.3 million) to the Decatur Parkway Solar Facility.
- In Service: December 2015
- Location: Decatur County, Georgia
- Capacity: 84 MW
- Generation Resource: Photovoltaic Solar
- The project was proposed by Tradewind Energy Inc. and selected by Southern Company subsidiary Georgia Power in a competitive process through the nationally recognized Georgia Power Advanced Solar Initiative.
- In 2019, the project generated approximately 184,912 megawatt hours (MWh) and offset 130,733 metric tons of CO2, bringing the total since the project was placed in service to approximately 749,824 MWh and 536,119 metric tons of CO2 offset.**
- In 2019, Decatur Parkway generated enough electricity to power the equivalent of approximately 16,859 average U.S. homes for one year, bringing the total since the project was placed in service to approximately 69,830 homes.***
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Fact Sheet
*If the RECs are re-sold, the ultimate purchaser of the RECs gains the exclusive right to claim that its load received any and all environmental benefits associated with the renewable energy generated.
**Per the EPA Environmental Impacts Calculator
***Per the EIA annual average residential electricity consumption
Kay Wind Facility
- Amount Allocated: $459.9 million
- In Service: December 2015
- Location: Kay County, Oklahoma
- Capacity: 299 MW
- Generation Resource: Wind Turbine
- The electricity and associated renewable energy credits (RECs) generated by the facility are being sold under 20-year power purchase agreements with Westar Energy Inc. in Kansas and Grand River Dam Authority in Oklahoma. Both companies have the option to either keep or sell the RECs.*
- In 2019, the project generated approximately 984,598 megawatt hours (MWh) and offset 696,111 metric tons of CO2, bringing the total since the project was placed in service to approximately 4,217,502 MWh and 3,018,465 metric tons of CO2 offset.**
- In 2019, Kay generated enough electricity to power the equivalent of approximately 89,770 average U.S. homes for one year, bringing the total since the project was placed in service to approximately 392,862 homes.***
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Fact Sheet
*If the RECs are re-sold, the ultimate purchaser of the RECs gains the exclusive right to claim that its load received any and all environmental benefits associated with the renewable energy generated.
**Per the EPA Environmental Impacts Calculator
***Per the EIA annual average residential electricity consumption
Management Assertion and Independent Accountants' Attestation Report