Southern Company settlement removes a key risk, says Wells Fargo Wells Fargo believes the settlement between Mississippi Power and the Mississippi Public Service Commission outlining recovery of the under-construction Kemper County IGCC plant removes a key risk for Southern Company. Wells views the settlement as favorable for Southern Company and keeps a Market Perform rating on the stock.
Southern Company subsidiary acquires two Georgia solar projects Southern Company subsidiary Southern Power announced the acquisition of two photovoltaic solar projects totaling 99 megawatts in Georgia – the 80-MW Decatur Parkway Solar Project and the 19-MW Decatur County Solar Project – from Tradewind Energy. The projects were proposed by Tradewind Energy and selected by Southern Company subsidiary Georgia Power in a competitive process through the nationally recognized Georgia Power Advanced Solar Initiative. The electricity and associated renewable energy credits generated by the 80-MW facility will be sold under a 25-year power purchase agreement with Georgia Power. Construction of the 80-MW facility is currently scheduled to begin this month. Georgia Power will purchase the energy generated from the 19-MW project under a 20-year PPA. Southern Power will retain the associated RECs, which it may sell to third parties. Construction of the 19-MW facility is currently scheduled to begin in June. Both projects, which are expected to enter commercial operation in late 2015, will be constructed on separate sites totaling approximately 950 acres in south Georgia's Decatur County using single-axis tracking technology – optimizing efficiency by directing solar panels to track the sun.