Southern Co. subsidiary Southern Power has issued $1 billion aggregate principal amount of Green Bonds to become the first investment-grade electric utility in the United States to offer this type of security to support investment in sustainable generation. The inaugural Green Bond issuance underscores the company’s commitment to further develop a full portfolio of energy resources.
An amount equal to the net proceeds of the Green Bonds will be allocated to eligible renewable energy projects, including solar and wind generating facilities located in the United States.
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Southern Power is a wholesale energy provider meeting the electricity needs of municipalities, electric cooperatives and investor-owned utilities. The company assembled its nationally recognized green energy portfolio – with approximately 1,550 MW of generating capacity owned, under development or under contract – through the strategic development or acquisition of 21 solar and wind projects across the United States. In all, the Southern Company system has added or announced more than 3,600 MW of renewable projects since 2012.
Southern Company and its subsidiaries, including Southern Power, have committed $20 billion to developing the full-portfolio of low- and zero-carbon emission generating resources.
— Solar Builder magazine
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