Southern Co. unit Southern Power acquired the company's second solar power project in Texas and its 35th generating facility overall: the 120 MW East Pecos Solar Facility.
"Southern Power's acquisition of the East Pecos Solar Facility underscores the company's commitment to strategically develop renewables across America," said Southern Company Chairman, President and CEO Thomas A. Fanning. "This project aligns with its conservative business model as Southern Power has built one of the nation's largest renewable energy portfolios."
The East Pecos Solar Facility will be located on about 1,000 acres in Pecos County and is expected to consist of about 1.2 million of First Solar's thin-film, photovoltaic solar modules mounted on single-axis tracking tables.
First Solar is building and will operate and maintain the facility. Construction began in February and the facility is expected to reach commercial operation in the fourth quarter 2016.
The electricity and associated renewable energy credits generated by the facility will be sold under a 15-year power purchase agreement with Austin Energy, which will have the option to keep or sell the RECs.
On Nov. 30, 2015, Southern Power announced the acquisition of a controlling interest in its first solar power project in Texas — the 157 MW Roserock Solar Facility.
With more than 1,900 MW of renewable generating capacity ownership, Southern Power assembled its nationally recognized renewable portfolio through the strategic development of 26 solar, wind and biomass projects either in operation or under development across the United States. In all, the Southern Company system has added or announced more than 3,800 MW of renewable energy projects since 2012.
The East Pecos Solar Facility fits Southern Power's business strategy of growing its wholesale business through the acquisition and construction of generating assets substantially covered by long-term contracts.