Southern Company to Build 3 Solar Farms on U.S. Army Bases

Southern's Georgia subsidiary is making big bets on solar energy.

May 15, 2014 at 2:21PM

Southern Company (NYSE:SO) announced today that it is spreading solar energy to the U.S. armed forces bases. The utility announced plans today to build, own, and operate three solar farms on Georgia army bases.

According to the company, each plant will be capable of generating approximately 30 MW of solar energy, making them the largest solar farms on any U.S. base. They will be located at Fort Stewart near Savannah, Fort Benning near Columbus, and Fort Gordon near Augusta.

"Through constructive regulation and thoughtful energy policy planning, Georgia is leading the way in developing cost-effective solar generation for customers," said Norrie McKenzie, vice president of renewable development for Southern Company subsidiary Georgia Power, in the press release. "The agreement with the U.S. Army not only marks another step for Georgia Power's solar initiatives, but further enhances the state's position as a solar leader and will strengthen both the bases and the surrounding communities."

Georgia regulators have already approved the plants, and Southern Company estimates the farms to be fully operational by 2017.

The projects are all expected to be completed at an equal or lesser cost than generating the same electricity from other fuel sources. Georgia Power is investing heavily in solar, and expects its solar capacity to clock in at nearly 900 MW by 2016, the "largest voluntary solar portfolio" in the U.S. according to the press release. Voluntary means the utility is not building the plants simply to meet a mandated energy standard.

Justin Loiseau has no position in any stocks mentioned. The Motley Fool recommends Southern Company. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

4 in 5 Americans Are Ignoring Buffett's Warning

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Jun 12, 2015 at 5:01PM

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David Hanson owns shares of Berkshire Hathaway and American Express. The Motley Fool recommends and owns shares of Berkshire Hathaway, Google, and Coca-Cola.We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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