By Editors of Power Engineering
Southern Power, a subsidiary of Southern Company, announced the acquisition of a controlling interest in the 257-MW Wake Wind Energy Center in northwest Texas.
Invenergy Wind LLC, the original developer of Wake Wind, still owns the remaining interest in the project.
Neither the amount of the stake nor the purchase price was disclosed.
The majority of the electricity and renewable energy credits are under two separate, long-term power sale agreements, with Southern Power retaining a small percentage.
"Southern Power remains committed to strategically developing our renewable energy portfolio," said Southern Power President and CEO Buzz Miller. "The Wake Wind Energy Center continues our growth in wind generation and will provide renewable wholesale energy to our customers."
A release issued by Southern Company noted the project fits Southern Power’s strategy of increasing its business through the acquisition and construction of generating assets substantially covered by long-term contracts.
Southern Power owns more than 2,600 MW of renewable generation across 32 solar, wind and biomass facilities either announced, acquired or under construction. Across its system, Southern Company has added or announced more than 4,000 MW of renewable generation since 2012.