Southern Power will acquire a 151-MW wind energy project in Oklahoma from Apex Clean Energy.
The deal for the Grant Wind facility is expected to close in March 2016 when the project is completed. The farm will use 66 Siemens (NYSE: SI) wind turbines.
Apex Clean Energy is managing the construction of the project and will maintain and operate it when it is completed. IEA Renewable Energy is the engineering, procurement and construction contractor. Construction began in August.
The output and associated renewable energy credits will be sold under a 20-year power purchase agreement with Western Farmers Electric Cooperative, East Texas Electric Cooperative and Northeast Texas Cooperative at 50-MW each.
This is the second wind farm purchased by the Southern Co. (NYSE: SO) unit. In March, Southern Power acquired the 299-MW Kay Wind facility in Oklahoma, also from Apex Clean Energy, which is expected to close in the fourth quarter of 2015.