Southern Power Buys Stake in 102-MW California Solar Project

solar power panels

Southern Power, a subsidiary of Southern Co. (NYSE: SO), acquired a controlling interest in a 102-MW solar power project in California from SunPower.

SunPower will keep the remaining stake in the Henrietta Solar Project, the project the company developed, designed and is currently building. Construction began in May 2015, and the project is expected to be fully operational in the third quarter of this year. SunPower is building a SunPower Oasis Power Plant system, a fully-integrated, modular solar power block engineered to rapidly deploy utility-scale solar projects while optimizing land use.

Pacific Gas & Electric Co. will buy the electricity and associated renewable energy credits generated by the facility under a 20-year power purchase agreement.

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