Southern Adds 250 MW of Wind to Power Purchases

Southern (NYSE: SO  ) announced today that its Georgia Power subsidiary will add 250 MW of wind to its power purchases. The regulated utility plans to source cost-effective energy from EDP Renewables wind farms in Oklahoma, a move that Georgia Power President and CEO Paul Bowers says will "provide the best overall economic value to our customers."

"Adding wind energy to our generation mix underscores our commitment to a diverse portfolio that offers clean, safe, reliable, sustainable and low-cost electricity for years to come," said Bowers in a statement today.

Although wind won't wind up in Georgia Power's energy portfolio until 2016, this newest move comes just six months after the company received the green light for its "Georgia Power Advanced Solar Initiative," a plan to contract 210 MW of solar capacity over the next two years.

Southern's 43,500 MW of generation currently relies on coal for 52% of its capacity and oil and gas for another 30%. This newest announcement turns Southern's shade slightly more green, adding on to its approximately 1,250 MW of generation from solar, hydropower, biomass, and landfill methane gas.

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9/23/2016 4:02 PM
SO $53.53 Up +0.05 +0.09%
Southern Company CAPS Rating: ***