In November of 2016, Southern Power completed a third green bond issuance of $900 million (Series 2016D and 2016E).
Below you can see the specific Eligible Green Projects to which Southern Power has allocated the green bond proceeds ($895.3 million), the environmental benefits of those projects (representing 100 percent of each project) and Southern Power's management assertion letter together with the independent accountants' attestation report.
Boulder Solar I Facility
- Amount Allocated: $100.3 million
- In Service: December 2016
- Location: Clark County, Nevada
- Capacity: 100 MW, Southern Power owns a 51 percent equity interest (approximately 51 MW)
- Generation Resource: Photovoltaic Solar
- Southern Power acquired a majority interest through an initial partnership arrangement with SunPower.
- Electricity generated by the plant serves a 20-year power purchase agreement with NV Energy, which has the option to keep or sell the associated portfolio energy credits (PECs).*
- In 2019, the project generated approximately 268,134 megawatt hours (MWh) and offset 189,611 metric tons of CO2, bringing the total since the project was placed in service to approximately 1,038,572 MWh and 752,562 metric tons of CO2 offset.**
- In 2019, Boulder Solar I generated enough electricity to power the equivalent of approximately 24,447 average U.S. homes for one year, bringing the total since the project was placed in service to approximately 96,841 homes.***
- Fact Sheet
*If the PECs are re-sold, the ultimate purchaser of the PECs 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
Grant Wind Facility
- Amount Allocated: $225 million
- In Service: April 2016
- Location: Grant County, Oklahoma
- Capacity: 151 MW
- Generation Resource: Wind Turbine
- Electricity generated by the plant serves three separate 20-year power purchase agreements with Western Farmers Electric Cooperative, East Texas Electric Cooperative and Northeast Texas Electric Cooperative, which have the option to keep or sell the associated renewable energy credits (RECs).*
- In 2019, the project generated approximately 580,506 megawatt hours (MWh) and offset 410,418 metric tons of CO2, bringing the total since the project was placed in service to approximately 1,992,155 MWh and 1,442,625 metric tons of CO2 offset.**
- In 2019, Grant generated enough electricity to power the equivalent of approximately 52,927 average U.S. homes for one year, bringing the total since the project was placed in service to approximately 185,725 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
Grant Plains Wind Facility
- Amount Allocated: $145 million
- In Service: December 2016
- Location: Grant County, Oklahoma
- Capacity: 147 MW
- Generation Resource: Wind Turbine
- Electricity generated by the plant serves 10-, 12- and 20-year power purchase agreements with Allianz, Steelcase and OMPA, which have the option to keep or sell the associated renewable energy credits (RECs).*
- In 2019, the project generated approximately 538,753 megawatt hours (MWh) and offset 380,898 metric tons of CO2, bringing the total since the project was placed in service to approximately 1,992,155 MWh and 1,442,625 metric tons of CO2 offset.**
- In 2019, Grant Plains generated enough electricity to power the equivalent of approximately 49,120 average U.S. homes for one year, bringing the total since the project was placed in service to approximately 185,725 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
Wake Wind Energy Center
- Amount Allocated: $425 million
- In Service: October 2016
- Location: Crosby and Floyd Counties, Texas
- Capacity: 257 MW, Southern Power owns a 90 percent equity interest (approximately 231 MW)
- Generation Resource: Wind Turbine
- Electricity generated by the plant is sold under two separate 12-year power purchase agreements. Southern Power, through its subsidiaries, will retain a small percentage of the electricity and RECs generated, which it may keep or sell.*
- In 2019, the project generated approximately 1,130,168 megawatt hours (MWh) and offset 799,029 metric tons of CO2, bringing the total since the project was placed in service to approximately 4,291,979 MWh and 3,108,922 metric tons of CO2 offset.**
- In 2019, Wake Wind generated enough electricity to power the equivalent of approximately 103,042 average U.S. homes for one year, bringing the total since the project was placed in service to approximately 400,213 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